ABU DHABI, United Arab Emirates (AP) — Abu Dhabi hosts a major oil summit Monday, just after the OPEC+ group of the cartel and its allies announced they would halt planned production increases for early 2026. This decision comes amid new oil sanctions from the U.S. and the U.K. targeting Russia over its war on Ukraine. OPEC+ includes core cartel members and nations outside the group, led by Russia. On Sunday, OPEC+ decided to increase production by 137,000 barrels starting in December but paused other adjustments. Benchmark Brent crude was selling around $65 a barrel Monday, down from a high of $115 after Russia’s invasion of Ukraine in 2022.
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