OPEC+ Holds Steady Amidst Internal Strife and Political Tensions

OPEC+ is set to maintain its current oil output despite rising political tensions among key members and external pressures. The group's meeting comes amid an 18% drop in oil prices in 2025. Key challenges include Saudi-UAE conflicts, U.S. sanctions on Russia, and unrest in Iran and Venezuela.

OPEC+ is expected to maintain its current oil production levels during its meeting on Sunday, despite escalating political tensions among key members Saudi Arabia and the UAE, and external challenges such as the U.S. capture of Venezuela's president.

The meeting, involving eight members that together pump about half of the world's oil, comes after a significant 18% drop in oil prices in 2025 due to concerns about oversupply. Despite previous increases in oil output targets, sources indicate that the group will uphold their decision to pause any further hikes in the first quarter of the year.

OPEC+ faces multiple internal and external crises, including discord between Saudi Arabia and the UAE over Yemen and U.S. sanctions on Russian oil exports. Additionally, unrest in Iran and Venezuela's stagnant oil production pose further challenges to the organization's stability and market influence.

(With inputs from agencies.)