OPEC+ agreed on Sunday to maintain steady oil output at a brief online meeting, the group said in a statement.
Sunday’s meeting of eight members of OPEC+, which pumps about half the world’s oil, comes after oil prices fell more than 18% in 2025.
The eight – Saudi Arabia, Russia, the 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 3% of world oil demand.
They agreed in November to pause output hikes for January, February and March. Sunday’s brief online meeting did not discuss Venezuela, one OPEC+ delegate said.
The eight countries will meet next on Feb. 1, the statement said.
