VIENNA, AUSTRIA (By OPEC, 17.Nov.2025, Words: 261) — With reference to the Reuters article, dated 13 Nov. 2025, titled ‘Oil extends losses on US inventory build, OPEC forecast shift’, the OPEC Secretariat feels it is important to clarify an inaccurate statement in the story related to the Nov. OPEC Monthly Oil Market Report (MOMR).
Referring to OPEC’s MOMR, published on 12 Nov., the article stated “OPEC said it expected the supply surplus next year because of wider production increases by OPEC+, a group of producers that includes OPEC members and allies like Russia.”
This reference cannot be attributed to OPEC as it was not included in OPEC’s Nov. MOMR. Such an interpretation neither reflects the content of the report nor can it be inferred from the MOMR. The report does not make any statement or forecast regarding a supply surplus next year, nor does it provide an assessment that would support that conclusion. Any such inference is the result of external interpretation and is not contained in the published analysis.
To reiterate, participants in OPEC+ retain full flexibility in pausing or reversing the return of voluntary production adjustments in 2026.
It is vital that reporting on OPEC’s publications is done in an accurate manner and without statements or assumptions that are misleading, as they can also then be picked up by others.
We encourage stakeholders, analysts and media to refer directly to OPEC’s official reports for accurate presentation of data and findings.
OPEC’s publications aim to provide transparent and objective information, and the MOMR itself remains the definitive source for our near-term assessments.
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