OPEC+ Set to Keep Supply Steady Amid Turmoil, Delegates Say

OPEC+ delegates said they’re likely to stick with plans to pause supply increases in the first quarter at a meeting on Sunday, adding it’s too early to assess the impact of the shock US capture of Venezuela leader Nicolas Maduro.

Key members led by Saudi Arabia and Russia will hold a monthly video conference to review a decision — first made in November — to keep supply steady during the first quarter after rapidly reviving production last year. Delegates who asked not to be identified said that OPEC+’s intention to stick with the supply pause for now is unlikely to be affected by events in Venezuela.