diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 061f355bf3..af721f5395 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "1.55.0"
+  ".": "1.55.1"
 }
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 921f9b7bad..409d3c2df0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,24 @@
 # Changelog
 
+## 1.55.1 (2024-11-25)
+
+Full Changelog: [v1.55.0...v1.55.1](https://github.com/openai/openai-python/compare/v1.55.0...v1.55.1)
+
+### Bug Fixes
+
+* **pydantic-v1:** avoid runtime error for assistants streaming ([#1885](https://github.com/openai/openai-python/issues/1885)) ([197c94b](https://github.com/openai/openai-python/commit/197c94b9e2620da8902aeed6959d2f871bb70461))
+
+
+### Chores
+
+* remove now unused `cached-property` dep ([#1867](https://github.com/openai/openai-python/issues/1867)) ([df5fac1](https://github.com/openai/openai-python/commit/df5fac1e557f79ed8d0935c48ca7f3f0bf77fa98))
+* remove now unused `cached-property` dep ([#1891](https://github.com/openai/openai-python/issues/1891)) ([feebaae](https://github.com/openai/openai-python/commit/feebaae85d76960cb8f1c58dd9b5180136c47962))
+
+
+### Documentation
+
+* add info log level to readme ([#1887](https://github.com/openai/openai-python/issues/1887)) ([358255d](https://github.com/openai/openai-python/commit/358255d15ed220f8c80a3c0861b98e61e909a7ae))
+
 ## 1.55.0 (2024-11-20)
 
 Full Changelog: [v1.54.5...v1.55.0](https://github.com/openai/openai-python/compare/v1.54.5...v1.55.0)
diff --git a/README.md b/README.md
index f1cd97b96e..5854e8d3ad 100644
--- a/README.md
+++ b/README.md
@@ -509,12 +509,14 @@ Note that requests that time out are [retried twice by default](#retries).
 
 We use the standard library [`logging`](https://docs.python.org/3/library/logging.html) module.
 
-You can enable logging by setting the environment variable `OPENAI_LOG` to `debug`.
+You can enable logging by setting the environment variable `OPENAI_LOG` to `info`.
 
 ```shell
-$ export OPENAI_LOG=debug
+$ export OPENAI_LOG=info
 ```
 
+Or to `debug` for more verbose logging.
+
 ### How to tell whether `None` means `null` or missing
 
 In an API response, a field may be explicitly `null`, or missing entirely; in either case, its value is `None` in this library. You can differentiate the two cases with `.model_fields_set`:
diff --git a/pyproject.toml b/pyproject.toml
index 02b3fbfb93..fb48acf1f2 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "openai"
-version = "1.55.0"
+version = "1.55.1"
 description = "The official Python library for the openai API"
 dynamic = ["readme"]
 license = "Apache-2.0"
@@ -14,7 +14,6 @@ dependencies = [
     "anyio>=3.5.0, <5",
     "distro>=1.7.0, <2",
     "sniffio",
-    "cached-property; python_version < '3.8'",
     "tqdm > 4",
     "jiter>=0.4.0, <1",
 ]
diff --git a/src/openai/_compat.py b/src/openai/_compat.py
index 7c3156a5eb..87fc370765 100644
--- a/src/openai/_compat.py
+++ b/src/openai/_compat.py
@@ -145,7 +145,8 @@ def model_dump(
             exclude=exclude,
             exclude_unset=exclude_unset,
             exclude_defaults=exclude_defaults,
-            warnings=warnings,
+            # warnings are not supported in Pydantic v1
+            warnings=warnings if PYDANTIC_V2 else True,
         )
     return cast(
         "dict[str, Any]",
@@ -225,9 +226,6 @@ def __set_name__(self, owner: type[Any], name: str) -> None: ...
         # __set__ is not defined at runtime, but @cached_property is designed to be settable
         def __set__(self, instance: object, value: _T) -> None: ...
 else:
-    try:
-        from functools import cached_property as cached_property
-    except ImportError:
-        from cached_property import cached_property as cached_property
+    from functools import cached_property as cached_property
 
     typed_cached_property = cached_property
diff --git a/src/openai/_version.py b/src/openai/_version.py
index 093c3e3939..f3c5f8db8b 100644
--- a/src/openai/_version.py
+++ b/src/openai/_version.py
@@ -1,4 +1,4 @@
 # File generated from our OpenAPI spec by Stainless. See CONTRIBUTING.md for details.
 
 __title__ = "openai"
-__version__ = "1.55.0"  # x-release-please-version
+__version__ = "1.55.1"  # x-release-please-version
diff --git a/tests/test_models.py b/tests/test_models.py
index 84dbce6914..d2884bcbfa 100644
--- a/tests/test_models.py
+++ b/tests/test_models.py
@@ -561,6 +561,14 @@ class Model(BaseModel):
             m.model_dump(warnings=False)
 
 
+def test_compat_method_no_error_for_warnings() -> None:
+    class Model(BaseModel):
+        foo: Optional[str]
+
+    m = Model(foo="hello")
+    assert isinstance(model_dump(m, warnings=False), dict)
+
+
 def test_to_json() -> None:
     class Model(BaseModel):
         foo: Optional[str] = Field(alias="FOO", default=None)