FinancialMediaGuide reports that the global oil market is undergoing significant changes that could have a substantial impact on the global economy in 2026. Ahead of the OPEC+ meeting on February 1, where the continuation of the oil production freeze will be discussed, analysts note that the decision to maintain the current policy will be driven by both external and internal factors. In January, oil prices rose by 8%, reaching over $66 per barrel. This increase was largely due to a production cut in Kazakhstan amid unstable conditions at major fields such as Tengiz. The reduction in output from the country has been a key factor in supporting the price amid global supply shortages.
Experts at FinancialMediaGuide believe that continuing the production freeze is logical given the current market conditions. In the face of economic uncertainty and rising demand in Asia, the decision to maintain a limited production policy helps avoid excessive supply on the market. This, in turn, helps keep oil prices high, which is crucial for both OPEC+ countries and global consumers. The drop in Kazakhstan’s production to 1.1 million barrels per day in January, compared to the usual 1.8 million barrels, has intensified the market deficit and supported price trends in the oil market.
However, in the long run, the situation remains uncertain. FinancialMediaGuide believes that price fluctuations are possible in 2026 due to increased production in other countries, such as the United States, and a potential recovery in Venezuela’s output. However, these developments are unlikely to significantly change the short-term picture, as OPEC+ will continue to restrain production amid uncertainty. It’s important to understand that measures like production freezes have a significant impact on the market, maintaining balance and preventing sharp price drops.
Based on current trends, Financial Media Guide forecasts that in the coming months, OPEC+ will maintain its production freeze strategy. This decision will help sustain high oil prices in the short term, but the long-term risks of oversupply remain a concern. Investors focused on the oil market should take into account potential changes in the global economy and the policies of major oil-producing countries. In times of uncertainty, it is crucial to be ready to adjust strategies in response to shifts in the global oil balance.
