The G8 OPEC+ maintained quotas for February and March at the December 2025 level.

The eight leading OPEC+ countries maintained their oil production quotas for February and March at the December 2025 level. This was announced on January 4 in a statement on the OPEC (Organization of Petroleum Exporting Countries) website.

It is noted that Russia, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman participated in the meeting via video link. They also confirmed their intention to fully compensate for any overproduction volume from January 2024.

"The eight countries reaffirmed their collective commitment to fully comply with the Declaration of Cooperation, including additional voluntary production adjustments, which will be monitored by a Joint Ministerial Monitoring Committee," the document says.

The next meeting of the OPEC+ Group of Eight will be held on February 1. The countries agreed to hold meetings to review market conditions, compliance with agreements and compensation on a monthly basis.

Quota status: OPEC+ has decided to maintain its oil production policy until the end of the year

In December, the G8 will increase production by 137 thousand barrels per day, and in the first quarter of 2026 it will suspend the increase.

On December 30, Bloomberg, citing a source, reported on the plans of OPEC+ countries to hold a videoconference on January 4 at which they will consider a decision on further reduction of oil production in the first quarter of 2026. It was noted that the International Energy Agency predicts a record oil surplus in 2026.

Russian Deputy Prime Minister Alexander Novak said on December 1 that the situation on the global oil market is stable, largely due to the actions of OPEC+ countries. He added that the demand for oil has now decreased somewhat.

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