OPEC+ sticks to current oil output despite global drama

Business Jan 04, 2026

OPEC+—including Saudi Arabia, Russia, UAE, and others—is keeping oil production steady until March 2026.
This move comes after crude prices dropped 18% in 2025, their sharpest fall since 2020, as the group tries to avoid making the oversupply problem worse.

Why should you care?

Behind the scenes, OPEC+ is juggling a lot: rising tensions between Saudi Arabia and UAE over Yemen, Russia dealing with US sanctions due to the Ukraine war, and Venezuela's huge oil reserves being wasted by years of mismanagement.
With oversupply concerns and political rifts testing their unity, holding back on production is their way of trying to keep prices—and their own stability—in check.