Despite the ongoing turmoil among its members, OPEC+ is expected to maintain its oil output levels at its upcoming meeting on Sunday, according to sources. This decision comes at a time when key members, Saudi Arabia and the UAE, are embroiled in political tensions, and the U.S. has taken control of Venezuela's president. The meeting of OPEC+ members, which pumps about half of the world's oil, follows a significant drop in oil prices in 2025, raising concerns about oversupply. The eight members - Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria, and Oman - had previously agreed to pause output hikes for January, February, and March. However, the recent tensions between Saudi Arabia and the UAE over the Yemen conflict could potentially impact the group's unity. Despite these challenges, OPEC+ has historically managed internal crises by prioritizing market management. Yet, with Russian oil exports under pressure due to U.S. sanctions and Iran facing protests and threats of intervention, the group's stability is at risk. The U.S. capture of Venezuelan President Nicolas Maduro adds another layer of complexity to the situation. While analysts doubt a significant boost to crude output from Venezuela in the near future, the meeting on Sunday will likely focus on maintaining stability and managing the current market dynamics.
