The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known collectively as OPEC+, decided on December 5 to delay its planned output increase by three months to April 2025, and to gradually increase production until the end of 2026 as OPEC+ (especially Saudi Arabia and the United Arab Emirates), want to prevent an oil price slide from current levels.
https://www.neglobal.eu/opec-postpones-plan-to-unwind-joint-output-cuts-on-supply-unease/