**we Predicted It!** Back in September, our team anticipated that, despite prior statements, OPEC+ would likely hold steady with its current production targets rather than unwinding cuts in 2025. On Monday, OPEC+ confirmed it will delay plans to ease production cuts by another month, affirming our September predictions. Our September analysis highlighted signs of instability in oil markets, from market sensitivity to unverified news in Libya to unusual trading behaviour. We also observed that neither Saudi Arabia nor Russia could realistically boost production back to 10 Mbd in 2025. Adding to this, growing non-OPEC supply from countries like Brazil and Guyana only underscored our view that demand growth would remain tempered. Amid a landscape shaped by bearish CTA positioning and hedge funds mostly holding long positions, sentiment continues to drive price movements rather than market fundamentals alone. For OPEC+, navigating this environment demands a nuanced approach; balancing market stability with demand dynamics isnt straightforward. Looking forward, the evolving 2025 outlook means OPEC+ must tread carefully. With non-OPEC growth slowing, especially in U.S. shale, our team will keep monitoring the impact on future balances. Stay tuned for more insights! https://t.co/YS9cuWsC0T https://t.co/G4XZuAT2YA.