OPEC+ likely to keep output policy unchanged on Jan. 4: Report

Logo of OPEC+

OPEC+ is likely to maintain oil production at current levels at its meeting on Jan. 4, after agreeing in November to pause output increases during January, February and March, a report said.

According to Reuters, citing sources familiar with the matter on Friday, the alliance is expected to continue with its current oil policy, with no changes to production quotas.

The eight countries — Saudi Arabia, the UAE, Russia, Kazakhstan, Kuwait, Iraq, Algeria and Oman — had raised output targets by around 2.9 million barrels per day for the period from April to December 2025, equivalent to about 3% of global oil demand.

Sunday’s meeting of the eight OPEC+ members, which collectively produce around half of the world’s oil, comes after crude prices fell by more than 18% in 2025, marking their steepest annual decline since 2020, amid growing concerns over a supply glut.