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Oil Prices Stabilize at the Start of the New Year; Market Focus Shifts to OPEC+ Meeting and Situation in Venezuela
On the first trading day of 2026, international oil prices opened steady. This follows the largest annual decline in oil prices since 2020. Traders are currently weighing the upcoming OPEC+ meeting and geopolitical concerns.Key OPEC+ members will hold a video conference on January 4 and are expected to uphold the decision made in November to halt further production increases.On the geopolitical front, the Donald Trump administration has intensified its crackdown on Venezuelan oil exports by imposing sanctions on four companies operating in Venezuela’s oil sector and designating four related oil tankers as frozen assets.
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