MOSCOW, June 16. /TASS/. Oil production by OPEC+ countries participating in the output reduction agreement increased by 200,000 barrels per day (bpd) in May 2025, though their production was 52,000 bpd below the plan considering voluntary cuts and compensations, according to OPEC June report.

Without Libya, Iran and Venezuela, which are freed from output cuts, the volume of production by countries of the alliance stood at 35,729 mln barrels per day (mbd). Considering all voluntary cuts and compensation schedules planned for May, OPEC+ nations were to produce 35,781 mln barrels per day. Consequently, the alliance’s production was 52,000 bpd below the plan.

Meanwhile, some countries continued exceeding their OPEC+ output obligations. For example, Kazakhstan produced 433,000 bpd higher than the OPEC+ plan in May.

Among non-OPEC+ countries, production in Libya rose by 36,000 bpd to 1.302 mbd, Iran’s output fell by 25,000 bpd to 3.303 mbd, while Venezuela’s production lost 32,000 bpd to 896,000 bpd.