The OPEC+ countries participating in the oil production cut agreement increased their output by 2.17 million barrels per day in June 2026, but continue to significantly lag behind planned targets. This is stated in the report of the International Energy Agency.
According to the IEA, the target production level for OPEC+ countries that voluntarily limit production was 33.89 million barrels per day in June, while actual production was 26.38 million barrels per day. Thus, the shortfall from the planned level was about 7.51 million barrels per day.
According to the agency, among the seven main countries participating in the OPEC+ agreement, production increased in June as follows:
- Algeria — 10 thousand barrels/day,
- Kuwait — 630 thousand barrels/day,
- Iraq — 490 thousand barrels/day,
- Saudi Arabia — 900 thousand barrels/day,
- Oman — 30 thousand barrels/day,
- Russia — 120 thousand barrels/day.
At the same time, Kazakhstan reduced its oil production by 50 thousand barrels/day in June.
Overall, the oil production of all OPEC+ countries increased by 2.14 million barrels in June, reaching 32.44 million barrels per day.
