On Monday, OPEC published a compensation schedule for six of its members for the period between last month and June 2026, with the aim of offsetting production above their targets.
The schedule indicates that, in total, members must make monthly cuts ranging from 190,000 barrels per day to 829,000 bpd to meet production targets.
The data shows that Saudi Arabia and Algeria are the only two countries that are not required to make compensatory cuts.
The group of eight producers agreed to raise their production targets by 137,000 bpd for October, thereby beginning to unwind a layer of 1.65 million bpd of cuts ahead of schedule. This comes after the group raised production targets by 2.5 million bpd between April and September.
Most of the compensatory cuts are in Kazakhstan, which has always produced above its target, followed by Iraq, Russia, and the UAE.
Source: Yahoo!Finanzas
