We've just seized a tanker on the coast of Venezuela. A large tanker, very large. Largest one ever seized actually and other things are happening.So you'll be seeing that later and you'll be talking about that later with some of the people. Venezuela denounces and repudiates energetically what constitutes a blatant theft and an act of international piracy announced publicly by the President of the United States. For more on this story, let's bring in Bloomberg energy reporter Stephen Stapczynski.Stephen, wh ...

Core Viewpoint - OPEC+ will pause output increases during the first quarter of the year after a modest hike in December, balancing market share ambitions against signs of an emerging surplus [1][2]. Group 1: OPEC+ Decisions - Key members, led by Saudi Arabia, agreed to revive 137,000 barrels a day in December, matching increases from previous months, followed by a hiatus from January to March due to expected seasonal demand slowdown [2]. - The January-to-March pause will be the first break from adding barrels since the restoration of halted supplies began in April [5]. Group 2: Market Context - The decision comes amid uncertainty for oil traders, particularly due to sanctions on Russia, which raise questions about supply prospects [3][4]. - There is a growing glut in the market, expected to increase into the next year, influencing OPEC+'s cautious approach [3][4]. Group 3: Price Dynamics - Brent crude futures have decreased by approximately 13% this year, settling below $65 a barrel, influenced by sanctions on Russia and a recent truce on trade tariffs between the U.S. and China [6].