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“Additional LNG and additional competition is welcome,” told CNBC’s Dan Murphy at the Doha Forum.

“It’s not a good idea to bring volumes in the first quarter,” Saudi Arabia’s Abdulaziz bin Salman assessed, with reference to demand and global uncertainty.

OPEC+ is struggling to bring barrels back to the market with prices under pressure from soft China demand and strong U.S. production.

This production cut was previously due to start being phased out in December.

Britain’s Shell and Norway’s Equinor on Thursday announced plans to combine their British offshore oil and gas assets to create a jointly owned energy company.

Britain is forecast to hit “peak petrol” in 2024, according to a new report, with EVs on track to assume a much bigger share of the country’s car market.

Trump has pledged to “end Biden’s delays in federal drilling permits and leases that are needed to unleash American oil and natural gas production.”

The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources told CNBC.

Exxon’s investments in slashing carbon emissions will play an increasingly important role in the oil major’s business over the long term, UBS said.

Higher fuel prices are on the cards if President-elect Donald Trump implements tariffs on Canada, said industry experts.