What decision did the eight leading OPEC+ countries make regarding oil production in Q1 2026?

The eight leading OPEC+ countries upheld the decision to suspend increases in oil production for Q1 2026, keeping quotas at December 2025 levels for February and March.[1][2]

Why has Venezuela's oil production declined despite its large reserves?

Venezuela's production has fallen due to mismanagement, under-investment, and U.S. sanctions, with potential for a 150,000 bpd rise if sanctions lift, but massive reforms needed for higher levels.[3]

What are the Saudi Arabia-UAE tensions mentioned in relation to oil politics?

Tensions between Saudi Arabia and the UAE have risen due to divergent positions in Yemen's conflict, potentially influencing regional alignments and oil politics amid other geopolitical threats.

How did OPEC+ perform on production targets in November 2025?

In November 2025, the eight OPEC+ countries increased output by 126,000 bpd, exceeding their target by 23,000 bpd after compensation adjustments.[2]

What is the current status of global oil prices and market conditions influencing OPEC+?

Brent futures settled under $61 per barrel after an 18% drop in 2025 due to surplus supply, slowing demand in China, and rising non-OPEC production, prompting OPEC+ to prioritize stability.

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OPEC+ Plans 2025 Output Rise as Venezuela Slumps and Gulf Tensions Rise

OPEC+ plans a 2025 production uptick to regain share amid adjustments, while Venezuela's output languishes due to sanctions and mismanagement; Saudi-UAE tensions shape Yemen's conflict.

Overview

A summary of the key points of this story verified across multiple sources.

OPEC+ and allied producers are planning a 2025 production increase to regain market share amid ongoing supply adjustments that aim to balance prices and volumes.

Venezuela holds the world's largest proven oil reserves, yet production has fallen sharply under mismanagement, under-investment, and sanctions, limiting export capacity and revenue.

Tensions between Saudi Arabia and the UAE have risen due to divergent positions in Yemen's conflict, affecting regional alignments and potentially influencing oil politics.

Analysts say supply adjustments and political frictions could affect prices and market confidence, with shifts in output strategy closely watched by consumers and investors.

The broader impact includes potential volatility in gasoline prices and energy investment decisions across regions as producers recalibrate to new supply-demand dynamics.

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Analysis

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Center-leaning sources frame this story with a cautious market narrative: volatility and geopolitical risk are foregrounded while OPEC+ is portrayed as stabilizing. Language like 'turmoil' and 'fragile environment' shapes perception, while emphasis on sanctions, Venezuela, and a 'comfortably supplied' market supports a restrained, hopeful outlook. Source content includes quotes from analysts and policy mentions.

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: The eight leading OPEC+ countries upheld the decision to suspend increases in oil production for Q1 2026, keeping quotas at December 2025 levels for February and March.[1][2]
Sources:
TASS
: Venezuela's production has fallen due to mismanagement, under-investment, and U.S. sanctions, with potential for a 150,000 bpd rise if sanctions lift, but massive reforms needed for higher levels.[3]
Sources:
Fortune
: Tensions between Saudi Arabia and the UAE have risen due to divergent positions in Yemen's conflict, potentially influencing regional alignments and oil politics amid other geopolitical threats.
Sources:
Fortune
: In November 2025, the eight OPEC+ countries increased output by 126,000 bpd, exceeding their target by 23,000 bpd after compensation adjustments.[2]
Sources:
Caspian Post
: Brent futures settled under $61 per barrel after an 18% drop in 2025 due to surplus supply, slowing demand in China, and rising non-OPEC production, prompting OPEC+ to prioritize stability.
Sources:
Fortune