The eight participating countries reaffirmed their decision on Nov. 2, 2025 to pause production increments in February and March 2026 due to seasonality
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually today, Jan. 4, to review global market conditions and outlook. 
The eight participating countries reaffirmed their decision on Nov. 2, 2025 to pause production increments in February and March 2026 due to seasonality as detailed in the table below:
Required Production from Feb. till March 2026 (‘000 barrels)
Country
February
March
Saudi Arabia
10103
10103
Russia
9574
9574
Iraq
4273
4273
UAE
3411
3411
Kuwait
2580
2580
Kazakhstan
1569
1569
Algeria
971
971
Oman
811
811
They also reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner, state-run news agency SPA reported.
The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024.
They will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on Feb. 1, 2026.
The eight participating countries reaffirmed their decision on Nov. 2, 2025 to pause production increments in February and March 2026 due to seasonality
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually today, Jan. 4, to review global market conditions and outlook.
The eight participating countries reaffirmed their decision on Nov. 2, 2025 to pause production increments in February and March 2026 due to seasonality as detailed in the table below:
Required Production from Feb. till March 2026 (‘000 barrels)
Country
February
March
Saudi Arabia
10103
10103
Russia
9574
9574
Iraq
4273
4273
UAE
3411
3411
Kuwait
2580
2580
Kazakhstan
1569
1569
Algeria
971
971
Oman
811
811
They also reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner, state-run news agency SPA reported.
The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024.
They will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on Feb. 1, 2026.
