Iraq, Kazakhstan and Russia fulfilled the agreements within OPEC+ in September
Iraq, Kazakhstan and Russia at the meeting of the OPEC+ ministerial monitoring committee confirmed that in September they had fully implemented the agreements reached between the states of the alliance, reported on the OPEC website.
Sources told Reuters that the focus of the meeting was countries' compliance with their commitments, and this was expected to remain the case in the coming weeks, particularly with regard to Iraq and Kazakhstan.
The OPEC communiqué said Iraq, Kazakhstan and Russia confirmed their readiness to follow the parameters of the deal and compensation plans. The monitoring committee held separate meetings with representatives of the three countries, during which the level of oil production in September was discussed.
Russia's official oil production quota in 2024, established within the framework of OPEC+, is 9.95 million barrels per day (b/d). According to the plan, in April Russia was supposed to reduce oil production by 350 thousand b/d and exports by 121 thousand b/d, in May - by 400 thousand b/d and 71 thousand b/d, respectively, and from June and until the end of November - by 471 thousand b/d.
