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Why OPEC+ is keeping production rates steady

OPEC+ expects lower demand in the coming months that could put further downward pressure on oil prices, particularly as China’s industrial output growth continues to slow and trade wars distort supply chains.

Russia's President Vladimir Putin (L) meets OPEC Secretary General Haitham Al Ghais during the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 20, 2025. (ANTON VAGANOV/POOL/AFP via Getty Images)

Welcome back to the Daily Briefing.

In today's edition:

  • Netanyahu asks Israeli president for pardon
  • In policy change, OPEC+ keeps oil production rates steady for Q1 2026
  • Pope Leo continues Lebanon visit
  • Iraq, Syria launch joint drug bust
  • Russia, Saudi Arabia ink visa free-travel agreement in first for Riyadh

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