MOSCOW, April 14. /TASS/. OPEC+ countries participating in the oil production limiting deal increased its production by 5,000 barrels per day (bpd) in March 2025 and were producing 99,000 bpd above the target with consideration of voluntary cuts and compensations, according to data presented in the OPEC report for April.
OPEC+ countries produced 35.512 mln bpd not including Libya, Iran and Venezuela that are exempted from the deal performance. The countries were to produce 35.413 mln bpd with consideration of all the voluntary cuts and compensation schedules for March. Thus, the alliance was producing 99,000 bpd above the target.
Kazakhstan was 422,000 bpd above its production commitments as part of the OPEC+ agreement. The country was to produce 1.43 mln bpd in March, while actual production totaled 1.852 bpd. Iraq was 97,000 bpd above the target; 3.981 mln bpd against the quota of 3.884 mln bpd.
Certain countries have their production lower than the target provided by OPEC+. These are South Sudan (44,000 bpd lower), Sudan (37,000 bpd), Congo (18,000 bpd) and Equatorial Guinea (9,000 bpd). Nigeria was 15,000 bpd above its quota in March.
Among the countries not participating in OPEC+ deal constraints, Libya lowered its production by 22,000 bpd to 1.262 mln bpd. Iran increased oil production by 12,000 bpd to 3.335 mln bpd. Oil production in Venezuela declined by 2,000 bpd to 911,000 bpd.