OPEC+ will likely maintain steady oil output at its meeting tomorrow, three Opec+ delegates said yesterday, despite political tensions running high.
Tomorrow’s meeting of eight members of Opec+, which pumps about half the world’s oil, comes after oil prices fell more than 18 per cent in 2025 – their steepest drop since 2020 – amid growing oversupply concerns.
The eight – Saudi Arabia, Russia, UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman – raised oil output targets by around 2.9 million barrels per day from April to December 2025, equal to almost 3pc of world oil demand.
They agreed in November to pause output hikes for January, February, and March.
Opec and authorities in Saudi Arabia and Russia did not reply to Reuters requests for comment on tomorrow’s meeting.
Opec has often preserved its cohesion even during serious internal rifts, such as the Iran–Iraq War, by prioritising market management over political disputes.
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