The Organization of the Petroleum Exporting Countries secretariat on Wednesday announced it has received updated compensation plans from Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan and Oman.

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

An online meeting of the Joint Ministerial Monitoring Committee, which includes top ministers from OPEC and allies led by Russia, took place earlier in the day, at which the need for achieving full compliance with oil output agreements and extra output cuts was stressed.

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

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

 

Sep25

Oct 25

Nov 25

Dec 25

Jan 26

Feb 26

Mar 26

Apr 26

May 26

Jun 26

Total

Iraq

130

130

130

125

125

125

120

120

119

117

1,241

Kuwait

32

 

 

 

 

 

 

 

 

 

32

UAE

10

10

10

10

20

35

35

50

55

57

292

Kaz.

16

21

86

126

198

306

456

496

556

656

2,917

Oman

10

8

6

8

8

5

7

9

 

 

61

Russia

34

34

34

34

 

 

 

 

 

 

136

Total

232

203

266

303

351

471

618

675

730

830

4,679

(Reporting by Anjana Anil in Bengaluru; Editing by Chris Reese and Matthew Lewis)