By Alex Lawler

LONDON (Reuters) -World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026.

OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has raised its output targets by around 2.9 million barrels per day – or around 2.7% of global supply – since April.

It plans to pause production hikes in the first quarter of 2026 amid widespread predictions of an oversupply.

In a monthly report on Wednesday, OPEC said the world economy’s growth trend remained firm.

While demand is seen as steady, OPEC said in the report that OPEC+ in October cut output by 73,000 bpd to

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