Eight OPEC+ countries’ oil production above target in May — OPEC

Business & Economy June 16, 2025, 16:00

The actual production growth was 172,000 barrels per day to 30.979 mln barrels daily

MOSCOW, June 16. /TASS/. Eight OPEC+ countries voluntarily reducing oil production lifted 394,000 barrels per day more above the agreed plan with consideration of voluntary compensations, according to data released by the Organization of Petroleum Exporting countries in the June report.

Eight OPEC+ countries were to increase production in May by 253,000 barrels per day against April with consideration of obligations to compensate overproduction, to 30.585 mln barrels per day in total. The actual production growth was 172,000 barrels per day to 30.979 mln barrels daily. Thus the surplus to the plan was 394,000 barrels a day.

Kazakhstan produced 433,000 barrels per day above its quota in April with consideration of compensations. Production of oil in Iraq was 21,000 barrels daily above the target. Russia, the UAE and Saudi Arabia produced 14,000, 32,000, and 17,000 barrels per day below the target respectively in April.

Oil production level was close to quotas in Oman, Kuwait and Algeria.

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