Eight OPEC+ countries increase oil output by 571,000 bpd in September
The primary "violator" of the OPEC+ production agreement in September was Kazakhstan, which produced 306,000 bpd above its quota
MOSCOW, October 13. /TASS/. The eight OPEC+ countries that are voluntarily reducing oil production increased their output by 571,000 barrels per day (bpd) in September instead of the planned 547,000 bpd, according to data published in OPEC report.
As a result, they produced 147,000 bpd above the agreed target, taking into account voluntary compensation measures.
The primary "violator" of the OPEC+ production agreement in September was Kazakhstan, which produced 306,000 bpd above its quota, taking into account compensation adjustments.
The United Arab Emirates produced 12,000 bpd below its OPEC+ target, Oman - 3,000 bpd below, Russia - 94,000 bpd below, Iraq - 24,000 bpd below, Algeria - 8,000 bpd below, and Saudi Arabia — 17,000 bpd below. Kuwait, meanwhile, almost fully met its quota, producing just 1,000 bpd less than planned.
Since the beginning of 2024, the eight leading OPEC+ countries have voluntarily reduced oil production by a combined 2.2 mln bpd. Starting in April 2025, Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Algeria, Oman, and Kuwait began gradually returning oil to the global market. In April, production increased by 138,000 bpd, from May through July — by 411,000 bpd each month, in August — by 548,000 bpd, and in September — by 547,000 bpd. In October, the countries began phasing out 1.65 mln bpd in voluntary production cuts, agreeing on an additional 137,000 bpd increase.
Earlier, OPEC received updated compensation plans for excess oil production from Russia, Iraq, the UAE, Kuwait, Kazakhstan, and Oman. These countries are expected to offset a total of 4.679 mln barrels per day of excess production between September 2025 and through June 2026.
Following the most recent meeting, held on October 5, the eight OPEC+ countries decided to increase oil production in November by 137,000 bpd.