OPEC+ Holds Oil Output Steady Amid Political Turmoil

On 4th January 2026, OPEC+ decided to keep oil production unchanged after a brief meeting, choosing market stability over immediate action despite sharp price declines and growing geopolitical crises among member states.

  • The decision comes after global oil prices fell over 18% in 2025, the steepest annual drop since 2020.

What is OPEC+?

  • OPEC+ is an expanded alliance comprising the Organization of the Petroleum Exporting Countries (OPEC) and 10 non-OPEC oil-producing nations.
  • It was formed in 2016 to coordinate oil production policies and stabilise global oil markets.
  • The group collectively produces around 50% of the world’s crude oil, giving it significant influence over ....
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