[Regnum] The eight leading OPEC+ countries have maintained current oil production levels until the end of the first quarter of 2026 and approved quotas for this period at the December 2025 level. This was reported on the OPEC website on November 30.
Russia, Saudi Arabia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman assessed the state of the global market and made forecasts against the backdrop of stable fundamentals.
They endorsed the decision made on November 2 to suspend production increases in the first quarter of 2026 "due to seasonal factors." However, additional voluntary curbs of 1.65 million barrels per day may be reinstated, either partially or fully, "gradually and depending on market conditions."
According to the updated parameters, Russia's production quota in January-March 2026 will be 9.574 million b/d, Saudi Arabia - 10.103 million b/d, Iraq - 4.273 million b/d, UAE - 3.411 million b/d, Kuwait - 2.580 million b/d, Kazakhstan - 1.569 million b/d, Algeria - 971 thousand b/d, Oman - 811 thousand b/d, excluding the compensation schedule.
The countries have stated their intention to continue closely monitoring the market situation. The gradual increase in production may be suspended or reversed depending on changing conditions.
In April 2025, OPEC+ members announced their intention to gradually restore production to 2.2 million barrels per day.