MOSCOW, March 11. /TASS/. The eight OPEC+ countries, which voluntarily cut oil production, boosted output by 333,000 barrels per day (bpd) in February 2026, with production 189,000 bpd above the agreed plan considering excess production compensation, OPEC said in a report.
The eight OPEC+ countries were to cut oil production by 68,000 bpd in February compared to January, considering obligations to compensate for excess production allowed earlier. The output level was planned at 32.565 mln barrels per day (mbd). Actual production rose by 333,000 bpd month-on-month to 32.754 mbd. Consequently, the plan was exceeded by 189,000 bpd.
Among eight OPEC+ countries, Russia was the only one behind the quota in February - by 390,000 bpd. Meanwhile, Kazakhstan’s production exceeded the target by 522,000 bpd, Iraq’s output - by 25,000 bpd, the UAE’s production - by 18,000 bpd, Saudi Arabia’s - by 7,000 bpd, Oman’s - by 3,000 bpd, while Kuwait and Algeria were 2,000 bpd above their quotas.
In early November 2025, eight leading OPEC+ countries agreed to suspend further output increases in Q1 2026 due to seasonality.