MOSCOW, February 1. /TASS/. The eight OPEC+ nations, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to pause production increments in March 2026 and keep oil production quotas at the December 2025 level, OPEC said after their meeting.

"The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 1 February 2026, to review global market conditions and outlook," it said. "The eight participating countries reaffirmed their decision on 2 November 2025 to pause production increments in March 2026 due to seasonality."

According to the organization, the OPEC+ nations reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner." The countries will continue monitoring the market situation.

As follows from the OPEC table, Russia’s quota for March 2026 stands at 9.574 mln barrels a day, Saudi Arabia’s - 10.103 mln barrels a day, Iraq’s - 4.273 mln barrels a day, the United Arab Emirates’ - 3.411 mln barrels a day, Kuwait’s - 2.580 miln barrels a day, Kazakhstan’s - 1.569 mln barrels a day, Algeria’s - 971,000 barrels a day, and Oman’s - 811,000 barrels a day.

A source in one of the delegations told TASS that the OPEC+ did not discuss plans for April.

The Next OPEC+ meeting will be held on March 1, 2026.