MOSCOW, July 13. /TASS/. The seven OPEC+ countries voluntarily cutting oil output produced 22.988 million barrels per day (bpd) in June 2026, falling 6.56 million bpd short of the agreed plan, taking into account voluntary reductions and compensations, according to a report by the Organization of the Petroleum Exporting Countries (OPEC).
Under the agreement, the seven nations (taking into account the UAE's withdrawal from the alliance on May 1) were expected to increase June production by 185,000 bpd compared to May due to higher quotas. While the planned production target was set at 29.548 million bpd, actual output stood at 22.988 million bpd. Thus, total production rose month-on-month by 1.166 million bpd but still missed the planned target by 6.56 million bpd.
Among these seven countries, June oil production in Oman grew by 1,000 bpd, Algeria increased output by 5,000 bpd, Iraq by 446,000 bpd, and Kuwait by 880,000 bpd. Meanwhile, output decreased in Saudi Arabia by 99,000 bpd, Kazakhstan by 4,000 bpd, and Russia by 61,000 bpd.
Of the leading seven OPEC+ members, Russia fell 834,000 bpd short of its June quota, Iraq was 2.382 million bpd short, Saudi Arabia was 3.444 million bpd short, and Kuwait was 1.176 million bpd short, while Algeria nearly hit its target, falling just 2,000 bpd short. The sharp quota underperformance of several Middle Eastern states is attributed to the conflict in the region.
At the same time, production exceeded the plan in Kazakhstan by 1.152 million bpd (despite a slight output decline in June) and in Oman by 126,000 bpd.
At the latest meeting of the seven nations, participants agreed to extend the compensation period for past overproduction until the end of December 2026 for countries implementing voluntary cuts, and to raise August quotas by 188,000 bpd.