The OPEC Secretariat has received updated compensation plans from Iraq, the United Arab Emirates, Kazakhstan, and Oman, covering adjustments in oil production from December 2025 through June 2026.

According to the plans, the total volumes to be compensated will increase gradually, from 267,000 barrels per day in December 2025 to 829,000 barrels per day by June 2026.

Iraq’s plans range from 100,000 to 120,000 barrels per day over the period, while Kazakhstan’s contributions rise sharply from 131,000 to 669,000 barrels per day. The UAE and Oman have smaller adjustments, with Oman’s plan fluctuating between 4,000 and 8,000 barrels per day.

These updates follow a virtual OPEC+ meeting on 30 November 2025, attended by Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman. At that meeting, the countries reaffirmed their decision to pause production increases in early 2026 due to seasonal considerations.

The adjustments aim to ensure full compliance with the Declaration of Cooperation (DoC) and compensate for any overproduction since January 2024.

OPEC said the participating countries will continue to monitor global market conditions closely and maintain flexibility to pause or reverse voluntary production adjustments if necessary. Monthly meetings are planned to review market trends, conformity, and compensation measures, with the next session scheduled for 1 February 2026.

The 41st OPEC and Non-OPEC Ministerial Meeting is set for 7 June 2026, where further updates on production strategies and cooperation plans will be discussed.

OPEC’s mandate remains to coordinate petroleum policies, stabilize markets, and ensure a steady supply of oil, while securing fair returns for producers and investors in the energy sector.