OPEC+ Maintains Oil Production Amid Political Tensions

OPEC+ decided to keep oil output unchanged amid various political crises affecting members, such as tensions in the Middle East and challenges in Venezuela and Russia. Despite an 18% drop in oil prices in 2025, the group prioritizes stability. It plans next output strategies to regain market share.

On Sunday, OPEC+ chose to maintain its current oil production levels, sidestepping discussions on the political turmoil impacting its member countries, which include those in the Middle East as well as Russia, Iran, and Venezuela.

This decision follows a significant plunge of over 18% in oil prices in 2025, a sharp decline reminiscent of the downturn experienced in 2020. Despite this, the organization's meeting primarily focused on stabilizing the market rather than addressing ongoing geopolitical issues.

The meeting's discussions reflected on tensions between Saudi Arabia and the UAE and the effectiveness of the group's strategy given the global decline in oil prices.

(With inputs from agencies.)