The post OPEC+ keeps output steady amid escalating geopolitical tensions appeared on BitcoinEthereumNews.com.

In Sunday’s virtual meeting of its eight members – Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman- the OPEC+ decided to keep the oil output unchanged, while avoiding the discussions of the geopolitical crises affecting several of the producer group’s members. Citing an OPEC+ delegate, Reuters reported on Sunday, “the eight members agreed in November to pause output hikes for January, February and March due to relatively low demand in the northern hemisphere winter.” The decision to hold the output comes after last month’s escalating tensions between Saudi Arabia and the UAE, and also following the United States’ seizure of Venezuelan President Nicolás Maduro over the weekend. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and…

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Filed under: News - @ January 4, 2026 11:27 pm