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OPEC secretariat receives updated compensation plans

ReutersApr 7, 2026 10:56 AM

April 7 (Reuters) - The OPEC secretariat has received updated oil production compensation plans from Iraq, United Arab Emirates, Kazakhstan and Oman, the organisation said on Tuesday.

The schedule received from the four members covered the period from last month until June of this year to make up for producing above their targets.

At a meeting on Sunday, OPEC+ agreed to lift oil output quotas by 206,000 bpd in May, though the increase will be largely notional as key members cannot boost production because of the Hormuz closure.

The majority of the compensation cuts need to be delivered by Kazakhstan, followed by Iraq and the UAE.

The table below shows the compensation plan in thousands of barrels per day.

	Mar 26	Apr 26	May 26	Jun 26	Total
Iraq	417	-	-	-	417
UAE	178	-	-	-	178
Kaz.	619	789	879	879	3,166
Oman	-	-	16	20	36
Total	1,214	789	895	899	3,797

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