Oil Prices Steady Amid US Winter Storm Impact, OPEC+ Meeting Looms

• Oil prices stabilized as traders evaluated the demand impact of a US winter storm that disrupted major refiners on the Texas coast, including Exxon Mobil Corp.
• West Texas Intermediate traded near $61 a barrel, while Brent settled below $66.
• Freezing conditions affected several US Gulf Coast refineries and curtailed some oil production, with concerns about prolonged impact from snow and ice.
• Oil futures rallied earlier this year despite expectations of a glut from increased OPEC+ production.
• OPEC+ delegates are set to meet this weekend to review production policy, with expectations to maintain steady output; US actions in Venezuela and Iran also influence market.

Why It Matters: Oil prices are stable as the market weighs US winter storm disruptions and upcoming OPEC+ production decisions.