MOSCOW, February 11. /TASS/. In January 2026, Russia reduced its oil production by 58,000 barrels per day (bpd)in comparison to December 2025 to 9.246 million bpd, producing 328,000 bpd less than the OPEC+ plan, including offsets and voluntary reductions, according to an OPEC report.

In January, Russia was expected to produce 9.574 million bpd, including all voluntary restrictions. However, no offsetting of the excess production was required for that month. As a result, actual production was 328,000 bpd lower than the established plan.

Currently, oil production in Russia is limited by the OPEC+ agreement. From the beginning of 2024 to March 2025, Russia's base production quota, including voluntary restrictions, was 8.978 million bpd. This figure did not include obligations to compensate for excess production during the voluntary restrictions.

Starting in April 2025, Russia began increasing production in accordance with the OPEC+ plan, and this figure gradually increased monthly. Initially, the production recovery was planned until September 2026, but OPEC+ countries began increasing production at a faster pace amid favorable oil market conditions.

In early November 2025, the eight leading OPEC+ countries agreed to suspend further production increases for the first quarter of 2026 due to seasonality. The countries' oil production quotas for January-March 2026 are the same as the quotas for December 2025. Russia's oil production quota for this period is 9.574 million bpd, Saudi Arabia's quota is 10.103 million bpd, Iraq's quota is 4.273 million bpd, the UAE's quota is 3.411 million bpd, Kuwait's quota is 2.580 million bpd, Kazakhstan's quota is 1.569 million bpd, Algeria's quota is 971,000 bpd, and Oman's quota is 811,000 bpd, excluding compensation for excess oil production.

At the last meeting, the OPEC+ G8 extended this decision.