Core Insights - OPEC's crude oil production remained stable in December, despite a significant drop in Venezuela's output, which fell to a two-year low, offset by increased production from other member countries [1] - The average daily production of OPEC was slightly above 29 million barrels, remaining consistent with the previous month [1] - The price of oil in London fluctuated above $60 per barrel, close to a five-year low, impacting the financial capacity of OPEC+ member countries [1] Group 1 - Venezuela's daily production decreased by approximately 14%, reaching 830,000 barrels due to U.S. interception strategies [1] - Iraq saw the largest increase in production, adding 80,000 barrels to reach an average of 4.37 million barrels per day, exceeding its OPEC+ quota [1] - Eight major member countries agreed to freeze production for the first quarter, halting last year's significant supply recovery plan amid uncertainty [1]

Core Viewpoint - OPEC+ plans to maintain production freeze in January to address potential supply surplus [1] Group 1 - Since April 2025, eight member countries have increased daily production by 2.9 million barrels [1] - The decision to pause further production increases in the first quarter of 2026 is a response to market conditions [1]