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Story summary
- OPEC+ decided to maintain steady oil output during a virtual meeting on January 4, 2026, amid political tensions between Saudi Arabia and the UAE.
- The group previously raised oil output targets by 2.9 million barrels per day for 2025 but paused hikes for January, February, and March due to low demand.
- Analysts predict that Venezuela will not see a significant increase in oil production for years due to mismanagement and sanctions.
- The next OPEC+ meeting is scheduled for February 1, 2026.
