OPEC agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut.
The meeting of OPEC, which pumps half of the worlds oil, comes during a fresh US effort to broker a peace deal between Russia and Ukraine, which could add to oil supply if sanctions on Russia are eased.
If the peace deal fails, Russia could see its supply curbed further by sanctions. OPEC groups the Organisation of the Petroleum Exporting Countries and allies led by Russia.
