The Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) has received updated compensation plans from Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman.

The OPEC Information Department stated in a release that these submissions implement agreements reached during the April 3, 2025 virtual meeting, where eight nations committed to additional voluntary production adjustments as part of collective efforts to stabilize global oil markets and support price stability.

Compensation Volume Breakdown:

• Iraq leads with a comprehensive compensation plan totaling 1.934 million barrels (April 2025-June 2026)

• Kazakhstan: 1.299 million barrels

• Russia: 691,000 barrels

• UAE: 386,000 barrels

• Oman: 97,000 barrels

• Kuwait: 150,000 barrels

• Saudi Arabia: 15,000 barrels

Algeria was not included in the announced compensation plans. The eight countries' combined compensation volumes amount to approximately 4.572 million barrels during the specified period.

Market Implications:
These plans represent a tangible step toward stronger compliance with OPEC+ policies, particularly for members that exceeded production quotas in recent months. The compensation measures are expected to:

• Enhance market stability

• Strengthen current agreement cohesion

• Address challenges facing the global economy and energy markets

Technical Note:
The compensation mechanism requires members to offset prior overproduction through additional voluntary cuts, maintaining the integrity of the OPEC+ production agreement framework.