At a meeting on February 1, OPEC+ countries decided to maintain oil production volumes in March 2026 at the December 2025 level, Izvestia reports.

According to the adopted quotas, Russia will be able to produce 9,574 million barrels per day in March, Saudi Arabia – 10,103 million barrels per day, Iraq – 4,273 million, the UAE – 3,411 million, Kuwait – 2,58 million, Kazakhstan – 1,569 million, Algeria - 971 thousand, and Oman - 811 thousand barrels per day.

Kazakhstan will face the largest additional production cuts relative to its established quota. In December and January, production in the country declined due to external factors, including restrictions on exports through the Caspian Pipeline Consortium (CPC) and an accident at a power facility in the Tengiz field.

Eight participating countries confirmed their intention to achieve full compliance with the Declaration of Cooperation. They are ready to accept additional voluntary production adjustments, which will be monitored by the Joint Ministerial Monitoring Committee (JMMC).

The next OPEC+ meeting is scheduled for March 1, 2026.