January 2, 2026

OPEC+ will likely maintain steady oil output at its meeting on Sunday, three OPEC+ delegates said on Friday, despite political tensions running high between key members Saudi Arabia and the UAE over Yemen.

Sunday’s meeting of eight members of OPEC+, which pumps about half the world’s oil, comes after oil prices fell more than 18% in 2025, their steepest drop since 2020, amid growing oversupply concerns.

The eight – Saudi Arabia, Russia, UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman – raised oil output targets by around 2.9 million barrels per day from April to December 2025, equal to almost 3% of world oil demand.

They agreed in November to pause output hikes for January, February, and March.

OPEC and authorities in Saudi Arabia and Russia did not reply to Reuters requests for comment on Sunday’s meeting.

Tensions between Saudi Arabia and the UAE, which back opposing sides in Yemen’s decade‑long conflict, flared last month when a UAE‑aligned group seized southern territory from the Saudi‑backed government.

So far, OPEC+ sources have given no indication that the dispute will affect Sunday’s talks.

OPEC has often preserved its cohesion even during serious internal rifts, such as the Iran–Iraq War, by prioritising market management over political disputes.

The UAE said it would withdraw its remaining forces from Yemen after Saudi Arabia supported a call for Emirati troops to leave within 24 hours, one of the most serious public disagreements between the two Gulf oil producers.

Yemen’s Saudi-backed government launched what it called a peaceful operation to take back military positions from the UAE-backed southern separatists on Friday, who in turn said seven Saudi airstrikes had taken place since the declaration.

REUTERS