OPEC received updated compensation plans for oil production from seven OPEC+ countries, the Organization said on its website.
Compensations until July 2026 will total 4.203 mln barrels per day. Plans were presented by seven out of eight OPEC+ countries that followed voluntary adjustments, specifically Iraq, Kuwait, Saudi Arabia, the UAE, Kazakhstan, Oman and Russia. Algeria will not have any compensations.
According to the schedule, Russia will compensate surplus oil production by 706,000 barrels per day from March to September 2025.
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