OPEC+ Freezes Output Caps Until 2027: Why This Long-Term Deal Is Shaking Crude Prices Now

The 40th OPEC and non-OPEC Ministerial Meeting (ONOMM), held in Vienna, concluded with a powerful message of continuity and long-term structural reform. The participating countries in the Declaration of Cooperation (DoC), known as OPEC+, formally reaffirmed the existing overall crude oil production levels until December 31, 2026.