OPEC+ updates compensation plan, Kazakhstan's overproduction debt risesThe OPEC+ alliance has published an updated schedule for compensatory cuts, showing four member states must offset a combined 4.57 million barrels per day of excess production between December 2025 and June 2026.The figure represents a slight decrease from the previous month's total compensatory target of 4.589 million barrels per day. The obligation is divided among Kazakhstan, Iraq, the United Arab Emirates and Oman.According to the new data, Kazakhstan's share increased to 3.536 million barrels per day, up from the prior 3.357 million. Iraq's share fell to 771,000 barrels per day from 947,000, while the UAE's decreased to 223,000 from 244,000. Oman's obligation remains unchanged at 40,000 barrels per day.Accounting for these compensation cuts, the total OPEC+ production target for January is now 38.221 million barrels per day, a reduction of 148,000 barrels from December. Targets for February and March are set at 37.780 and 37.778 million barrels per day, respectively.These adjustments are part of the ongoing mechanism for eight key OPEC+ members—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—who are implementing additional voluntary production curbs. The group is currently maintaining two separate sets of reductions, totaling 2.2 million and 1.65 million barrels per day.The latter set was initially set to run until the end of 2026. However, last September, after accelerating the return of the 2.2 million barrels per day in cuts to the market, the group began actively restoring the separate 1.65 million barrels per day in reductions. This occurred incrementally, by 137,000 barrels per day each month in October, November, and December, followed by a pause for the first quarter of 2026. This pause was confirmed at the latest meeting of the eight members on Jan. 4. (ICE ALMATY)

Fonte notizia: INTERFAX