OPEC+ to maintain oil output policy amid Saudi-UAE tensions over Yemen

DUBAI/LONDON, Jan 2 (Reuters): 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.