OPEC+ decides to maintain oil production levels through Q1 2026 to support market stability amid a positive global economic outlook. They met virtually on Jan 4, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman. The group also mentioned the possibility of gradually returning 1.65 million barrels per day of voluntary production cuts to the market based on evolving conditions.

Market conditions are supportive as global inventories remain low despite a significant 18% drop in oil prices in 2025 due to supply outpacing demand. OPEC+ emphasizes flexibility in their strategy, allowing for gradual adjustments based on market conditions. They remain committed to full conformity with the Declaration of Cooperation since January 2024.

Geopolitical tensions, like the strain between Saudi Arabia and the UAE over Yemen, and uncertainty in Venezuela, do not impact OPEC+ near-term policy. The group plans to continue monitoring market conditions, compliance levels, and compensation progress through monthly meetings. The next meeting is scheduled for February 1, 2026.

Read more at Yahoo Finance: OPEC+ Reaffirms Output Pause as Eight Producers Cite Market Stability