Overview
- Russia pumped 9.304 million barrels per day in December, a drop of 73,000 bpd and 270,000 bpd below its OPEC+ target of 9.574 million bpd.
- The January–March 2026 quota schedule remains aligned with December levels following the earlier agreement by leading OPEC+ members to suspend growth.
- Published Q1 quotas include Russia at 9.574 million bpd, Saudi Arabia at 10.103 million bpd, Iraq at 4.273 million bpd, and the UAE at 3.411 million bpd, excluding any compensation adjustments.
- OPEC’s report notes no compensation for surplus production was required from Russia for December.
- Kazakhstan’s December output fell to 1.522 million bpd from 1.759 million bpd in November due to export disruptions and weather, with the country pledging deeper compensation cuts through mid‑2026, according to OilPrice.com.