A press release posted on OPEC’s web site this week introduced that the OPEC Secretariat has 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 221,000 barrels per day in November, 272,000 barrels per day in December, 400,000 barrels per day in January 2026, 662,000 barrels per day in February 2026, 720,000 barrels per day in March 2026, 747,000 barrels per day in April 2026, 735,000 barrels per day in Could 2026, and 832,000 barrels per day in June 2026.
In line with the desk, Iraq’s compensation plans quantity to 125,000 barrels per day in November, December, January, and February, then drop to 120,000 barrels per day in March and April, then fall to 104,000 barrels per day in Could, earlier than dropping to 103,000 barrels per day in June. Kazakhstan’s compensation plans quantity to 83,000 barrels per day in November, 131,000 barrels per day in December, 259,000 barrels per day in January, 508,000 barrels per day in February, 569,000 barrels per day in March, April, and Could, and 669,000 barrels per day in June, the desk confirmed.
- Advertisement -
The UAE’s compensation plans are available in at 10,000 barrels per day in November, December, and January, 25,000 barrels per day in February and March, 54,000 barrels per day in April, and 55,000 barrels per day in Could and June, in line with the desk, which confirmed that Oman’s compensation plans quantity to three,000 barrels per day in November, 6,000 barrels per day in December and January, 4,000 barrels per day in February, 6,000 barrels per day in March, 4,000 barrels per day in April, 7,000 barrels per day in Could, and 5,000 barrels per day in June.
“As agreed throughout the digital assembly held by the eight international locations with further voluntary changes, together with Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman on 2 November 2025, the OPEC Secretariat obtained up to date compensation plans,” the assertion posted on OPEC’s web site famous.
A press release posted on OPEC’s web site on Sunday revealed that, in a gathering held that day, Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman “reaffirmed their determination on November 2, 2025, to pause manufacturing increments in January, February, and March 2026 resulting from seasonality”.
In line with a desk accompanying the assertion, “required manufacturing” in January, February, and March subsequent 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.
“The eight taking part international locations 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 assertion posted on OPEC’s web site famous.
“The international locations 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 strategy 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,” it added.
“The eight international locations reiterated their collective dedication to attain full conformity with the Declaration of Cooperation, together with the extra voluntary manufacturing changes that will probably be monitored by the Joint Ministerial Monitoring Committee (JMMC),” it continued.
“In addition they confirmed their intention to totally compensate for any overproduced quantity since January 2024,” it went on to state.
That assertion famous that “the eight OPEC+ international locations will maintain month-to-month conferences to overview market situations, conformity, and compensation”. It revealed that the eight international locations will meet on January 4, 2026.
A separate assertion posted on OPEC’s web site on Sunday highlighted that the fortieth OPEC and non-OPEC ministerial assembly happened that day. That assertion outlined that the taking part international locations determined to “reaffirm the Framework of the Declaration of Cooperation, signed on 10 December 2016 and additional endorsed in subsequent conferences” and “reiterate the vital significance of adhering to full conformity and the compensation mechanism”.
To contact the creator, e mail andreas.exarheas@rigzone.com
