Seven OPEC+ countries, including Kazakhstan, have agreed to increase oil production in September 2026. This was reported by Qazaqyia.kz citing Kursiv Media.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman decided to adjust production by a total of 188 thousand barrels per day. The measure is implemented within the framework of additional voluntary restrictions announced by the countries in April 2023.
The largest increase is planned for Saudi Arabia and Russia — each country will be able to increase production by 62 thousand barrels per day. Iraq will increase the figure by 26 thousand barrels, Kuwait by 16 thousand, Kazakhstan by 10 thousand, Algeria by 6 thousand, and Oman by 5 thousand barrels per day.
After the adjustment, the target production levels will be:
- 01Saudi Arabia: 10.048 million barrels per day
- 02Russia: 9.978 million barrels per day
- 03Iraq: 4.163 million barrels per day
- 04Kuwait: 2.548 million barrels per day
- 05Kazakhstan: 1.568 million barrels per day
- 06Algeria: 0.959 million barrels per day
- 07Oman: 0.805 million barrels per day
OPEC+ noted that the decision will also allow countries to accelerate the fulfillment of obligations to compensate for previously exceeded production volumes.
Recall that after attacks on CPC and the closure of the marine terminal, oil production in Kazakhstan decreased to 1.63 million barrels per day compared to the average production level in July of 2.07 million barrels per day.