OPEC+ countries left their oil production quotas unchanged in December 2026. The decision was made at an online meeting of the seven leading producers in the association - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
Russia's quota for December will be 9.949 million barrels per day, and Saudi Arabia's - 10.478 million barrels per day. Iraq will have a quota of 4.431 million barrels per day, Kuwait - with 2.676 million, Kazakhstan - with 1.628 million, Algeria - by 1.007 million, and Oman by 841,000 barrels per day.
The levels are the same as those set for September, October and November 2026. The decision confirms expectations that OPEC+ will not make new changes to its production policy until the end of the year. The market remains constrained by previous production cuts, while the war in the Middle East disrupts some supplies.
Quotas remain unchanged
Since April 2025, eight leading OPEC+ countries have begun to gradually return to the market quantities that were previously removed from production. In September 2025, they completely canceled the voluntary cuts of 2.2 million barrels per day - a year earlier than originally planned.
In October 2025, the gradual removal of another production limit of 1.65 million barrels per day began. The group subsequently suspended new changes to the targets while producers prepare for the setting of quotas in 2027.
After the United Arab Emirates left the group on May 1, 2026, monthly decisions are made by the G7. The next meeting of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman will be held on November 29.
Sources: bta.bg, in.marketscreener.com