OPEC+ Navigates Oil Output Amid Global Crises

OPEC+ maintained stable oil production levels, despite political tensions involving Saudi Arabia, the UAE, and the U.S. capture of Venezuela's president. The group faces internal challenges and external pressures, including Russian sanctions and Iranian issues, impacting its global oil influence and future strategies.

At a recent meeting, OPEC+ decided to keep oil output steady, despite ongoing political tensions among member nations such as Saudi Arabia and the UAE, as well as the recent U.S. capture of Venezuela's president. The decision comes as oil prices saw a dramatic drop in 2025.

The group, comprising eight key oil producers including Russia and Iraq, increased output targets by nearly 3% for 2025. The OPEC+ leaders will reconvene in February to assess market conditions, while tensions simmer among members over geopolitical conflicts, notably between Saudi Arabia and the UAE.

OPEC faces challenges with U.S. sanctions impacting Russian oil exports and unrest in Iran. Additionally, Venezuela's vast reserves remain underutilized due to sanctions and mismanagement, raising questions about future production improvements despite potential U.S. investments.

(With inputs from agencies.)