OPEC+ countries have decided not to increase oil production.
Modern.az reports that the ministers of the organization's eight member countries confirmed at the conclusion of their meeting that oil production in the first quarter of 2026 will remain at the December 2025 level.
This was stated in the communiqué issued by OPEC+.
According to the decision, the plan for a gradual increase in production in February and March 2026, taking into account seasonal fluctuations, has been suspended. It was noted that this decision was agreed upon by eight countries on November 2, 2025.
At the same time, the ministers also recalled the previous agreement reached at the beginning of November 2025. According to that agreement, the total oil production quota within OPEC+ was increased by 137 thousand barrels per day in December 2025.
According to existing agreements, the maximum oil production levels for the first quarter of 2026 have been set as follows: 9.57 million barrels per day for Russia, 10.103 million barrels for Saudi Arabia, 4.273 million barrels for Iraq, 3.411 million barrels for the United Arab Emirates, 2.580 million barrels for Kuwait, 1.569 million barrels for Kazakhstan, 971 thousand barrels for Algeria, and 811 thousand barrels for Oman. These figures were calculated without considering the compensation schedule.
