MOSCOW, October 1. /TASS/. OPEC has received the updated plans for compensation of surplus oil production from eight OPEC+ countries, the Organization said.
"As agreed during the virtual meeting held by the eight countries with additional voluntary adjustments, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, on September 7, 2025, the OPEC Secretariat received updated compensation plans," OPEC said.
The countries are to compensate excess oil production of 4.679 mln barrels per day (bpd) from September 2025 to June 2026. The share of Russia is 136,000 bpd by the end of 2025.
According to the previous schedule, Russia were to compensate 226,000 bpd from September to December of this year. The total volume of surplus production compensations increased against the previous schedule by 161,000 bpd from this September to next June.