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OPEC+ produced 321,000 bpd below target in August, including voluntary cuts

Excluding Libya, Iran, and Venezuela, which are exempt from the deal, the alliance’s output amounted to 36.947 mln bpd

MOSCOW, September 11. /TASS/. OPEC+ countries participating in the oil production cut agreement increased output by 530,000 barrels per day (bpd) in August 2025, yet production remained 321,000 bpd below the planned target when accounting for voluntary cuts and compensations, according to data presented in the OPEC report.

Excluding Libya, Iran, and Venezuela, which are exempt from the deal, the alliance’s output amounted to 36.947 mln bpd. Taking into account all voluntary restrictions and compensation schedules established in July, OPEC+ countries were expected to produce 37.268 mln bpd. Accordingly, actual production fell 321,000 bpd short of the plan.

At the same time, eight OPEC+ countries implementing voluntary production reductions exceeded their target production level by 110,000 bpd in August, increasing output by 552,000 bpd.

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