OPEC+ countries reduced oil production by 265,000 barrels per day in January

In January 2026, OPEC+ countries that are parties to the oil production reduction deal reduced fuel production by 265,000 barrels per day (b/d) and produced another 644,000 b/d below plan. Such data is provided on February 12 in the report of the Organization of Petroleum Exporting Countries (OPEC).

It is noted that, taking into account all voluntary restrictions and compensation schedules scheduled for January, the OPEC+ alliance was supposed to produce 37.829 million bpd. However, in fact, it pumped oil below the plan by 644 thousand bpd.

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