MOSCOW, February 12. /TASS/. OPEC+ countries participating in the oil production cut agreement increased output by 40,000 barrels per day (bpd) in January 2026, but exceeded the plan, taking into account voluntary cuts and compensations, by 10,000 bpd, according to the data presented in a report by the International Energy Agency (IEA).

According to the IEA, the OPEC+ countries' target production level under the agreement, taking into account voluntary cuts and compensations for excess production, was 36.32 million bpd in January, while actual production reached 36.33 million bpd. That means that their production was approximately 10,000 bpd above the projected level.

In January, according to the IEA, Kazakhstan produced 20,000 bpd above plan, Iraq exceeded the target by 190,000 bpd, the UAE - by 200,000 bpd, Oman - by 10,000 bpd, and Saudi Arabia - by 170,000 bpd.

Meanwhile, Russia fell 280,000 bpd short of its permitted production, while Kuwait and Algeria fell 10,000 bpd short.

OPEC+ production for all countries fell to 43.29 million bpd in January.