A press release posted on OPEC’s web site final week introduced that the OPEC Secretariat had obtained up to date compensation plans from Iraq, the United Arab Emirates (UAE), Kazakhstan, and Oman.
A desk accompanying this assertion confirmed that these compensation plans quantity to a complete of 267,000 barrels per day in December 2025, 415,000 barrels per day in January 2026, 708,000 barrels per day in February, 710,000 barrels per day in March, 810,000 barrels per day in April, 831,000 barrels per day in Might, and 829,000 barrels per day in June.
In keeping with the desk, Iraq’s compensation plans quantity to 120,000 barrels per day in each December 2025 and January 2026, 115,000 barrels per day in each February and March, 101,000 barrels per day in April, and 100,000 barrels per day in each Might and June.
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Kazakhstan’s compensation plans are available at 131,000 barrels per day in December, 279,000 barrels per day in January, 569,000 barrels per day in each February and March, 650,000 barrels per day in April, and 669,000 barrels per day in each Might and June, the desk confirmed.
The UAE’s compensation plans quantity to 10,000 barrels per day in each December and January, 20,000 barrels per day in each February and April, 54,000 barrels per day in each March and Might, and 55,000 barrels per day in June, in response to the desk, which confirmed that Oman’s compensation plans are available at 6,000 barrels per day in each December and January, 4,000 barrels per day in February, 6,000 barrels per day in March, 5,000 barrels per day in April, 8,000 barrels in Might, and 5,000 barrels per day in June.
“As agreed through the digital assembly held by the eight nations with extra voluntary changes, together with Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman on 30 November 2025, the OPEC Secretariat obtained up to date compensation plans,” the assertion famous.
A press release posted on OPEC’s web site on January 4 revealed that, in a gathering held on that day, Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman “reaffirmed their choice on 2 November 2025 to pause manufacturing increments in February and March 2026 because of seasonality”.
In keeping with a desk accompanying that assertion, “required manufacturing” in February and March this yr is 10.103 million barrels per day for Saudi Arabia, 9.574 million barrels per day for Russia, 4.273 million barrels per day for Iraq, 3.411 million barrels per day for the UAE, 2.580 million barrels per day for Kuwait, 1.569 million barrels per day for Kazakhstan, 971,000 barrels per day for Algeria, and 811,000 barrels per day for Oman.
That assertion highlighted that the eight OPEC+ nations, “which beforehand introduced extra voluntary changes in April and November 2023”, met nearly on January 4 “to assessment world market situations and outlook”. It mentioned the eight taking part nations “reiterated that the 1.65 million barrels per day could also be returned partially or in full topic to evolving market situations and in a gradual method”.
“The nations will proceed to carefully monitor and assess market situations, and of their steady efforts to help market stability, they reaffirmed the significance of adopting a cautious method and retaining full flexibility to proceed pausing or reverse the extra voluntary manufacturing changes, together with the beforehand carried out voluntary changes of the two.2 million barrels per day introduced in November 2023,” the assertion mentioned.
“The eight nations reiterated their collective dedication to realize full conformity with the Declaration of Cooperation, together with the extra voluntary manufacturing changes that shall be monitored by the Joint Ministerial Monitoring Committee,” it added.
“In addition they confirmed their intention to completely compensate for any overproduced quantity since January 2024,” it continued.
The assertion went on to notice that the eight OPEC+ nations will maintain month-to-month conferences “to assessment market situations, conformity, and compensation”, including that the eight nations will meet on February 1.
One other assertion posted on OPEC’s web site on November 30 revealed that, in a gathering held that day, the eight OPEC+ nations “reaffirmed their choice on November 2, 2025, to pause manufacturing increments in January, February, and March 2026 because of seasonality”.
A separate assertion posted on OPEC’s web site on November 30 highlighted that the fortieth OPEC and non-OPEC ministerial assembly came about that day. That assertion outlined that the taking part nations determined to “reaffirm the Framework of the Declaration of Cooperation, signed on 10 December 2016 and additional endorsed in subsequent conferences” and “reiterate the essential significance of adhering to full conformity and the compensation mechanism”.
In addition they determined to “reaffirm the extent of total crude oil manufacturing for OPEC and non-OPEC Collaborating International locations within the DoC as agreed within the thirty eighth OPEC and non-OPEC Ministerial Assembly till 31 December 2026” and “reaffirm the mandate of the Joint Ministerial Monitoring Committee (JMMC) to carefully assessment world oil market situations, oil manufacturing ranges, and the extent of conformity with the DoC, assisted by the OPEC Secretariat,” that assertion outlined.
“In reference to the choice of the thirty ninth ONOMM; mandating the OPEC Secretariat to develop a mechanism to evaluate taking part nations’ most sustainable manufacturing capability (MSC) for use as reference for the 2027 manufacturing baselines for all DoC nations, the Collaborating International locations accepted the mechanism developed by the Secretariat,” that assertion went on to notice.
This OPEC assertion additionally revealed that the nations determined to “reaffirm the framework of the Constitution of Cooperation (CoC), signed on 2 July 2019, and request the OPEC Secretariat to develop a plan and convert it into applications to realize the total aims of the CoC, because it was initially mandated, and current it to the forty first OPEC and non-OPEC Ministerial Assembly”.
The forty first OPEC and Non-OPEC ministerial assembly is scheduled to happen on June 7, 2026, in response to that assertion.
OPEC’s web site states that, “in accordance with its Statute, the mission of the Group of the Petroleum Exporting International locations (OPEC) is to coordinate and unify the petroleum insurance policies of its Member International locations and make sure the stabilization of oil markets in an effort to safe an environment friendly, financial and common provide of petroleum to shoppers, a gentle earnings to producers and a good return on capital for these investing within the petroleum trade”.
To contact the creator, e-mail andreas.exarheas@rigzone.com
