OPEC+ To Hold Steady Amidst Saudi-UAE Tensions

OPEC+ is expected to maintain its current oil output levels despite tensions between Saudi Arabia and the UAE over Yemen. The organization, which pumps half of the world's oil, faces no immediate threat to its talks, despite an 18% drop in oil prices in 2025 due to oversupply concerns.

OPEC+ is set to maintain its current oil output in the upcoming meeting, according to insiders, amid mounting political tensions between Saudi Arabia and the UAE over Yemen. These tensions have yet to show any impact on OPEC+ negotiations.

The upcoming meeting involves eight OPEC+ members, collectively responsible for half of the globe's oil output. It follows a significant 18% drop in oil prices in 2025, marking the steepest decline since 2020, triggered by oversupply fears.

Despite the UAE-Saudi Arabia rift, marked by military conflicts in Yemen, sources from OPEC+ signal no anticipated disruption to Sunday's talks. The organization has historically maintained cohesion, focusing on market stability over political strife.

(With inputs from agencies.)