OPEC+ keeps oil production steady as Trump backs Venezuela's membership

The OPEC+ group of oil-producing countries decided to keep their current oil output levels steady, extending a production pause into early 2026. The group is being cautious, partly because of supply risks from Venezuela, where political turmoil has led to a potential U.S. takeover of its oil industry.

In related news, President Donald Trump expressed support for Venezuela to remain a member of OPEC. Meanwhile, a former president of OPEC, Alison-Madueke, is facing a corruption trial in a UK court.