MOSCOW, February 11. /TASS/. The eight OPEC+ countries, which voluntarily cut oil production, reduced production by 235,000 barrels per day (bpd) in January 2026, producing 69,000 bpd less than the planned volume, including voluntary offsets, as follows from a report by the Organization of the Petroleum Exporting Countries (OPEC).
In January, the eight OPEC+ countries were expected to reduce oil production by 392,000 bpd compared to December, due to increased commitments to offset excess production, to 32.633 million bpd. However, actual production fell by 235,000 bpd by December to 32.564 million bpd.
In January, Kazakhstan produced 260,000 bpd above its quota, including offsets, Iraq produced 24,000 bpd, Oman also slightly exceeded its quota by 6,000 bpd, and Kuwait almost met its quota, exceeding it by 1,000 bpd.
In January, Russia produced 328,000 bpd below its quota, the UAE fell 12,000 bpd behind plan, Saudi Arabia fell 17,000 bpd behind plan, and Algeria produced 3,000 bpd less than the expected volume. In early November 2025, the eight leading OPEC+ countries agreed to suspend further production increases in the first quarter of 2026 due to seasonality.