OPEC+ countries exceeded oil output limits set by voluntary cut agreement — IEA

In March 2025, OPEC+ countries involved in the agreement to limit oil output, increased production by 50,000 barrels per day (bpd), exceeding the approved daily volume by 1.12 million barrels, according to the International Energy Agency’s (IEA) April report. 

The actual output reached 34.78 million bpd, with the target of 33.66 million bpd. The discrepancy is a result of pumping above the established limit, despite voluntary restrictions and compensatory measures the organization agreed upon.

The quotas were exceeded the most by Iraq (by 440,000 bpd), Kazakhstan (by 390,000 bpd), and the United Arab Emirates (by 350,000 bpd).

The OPEC+ agreement involves both official quotas for 2025–2026 and voluntary measures complied with by eight countries, including Russia and Saudi Arabia. They jointly cut production by 2.2 million bpd since the beginning of 2024. However, starting April 2025, this oil began gradually returning to the market. Simultaneously, an additional voluntary cut of 1.65 million bpd remains in effect. It was introduced in the spring of 2023 and extended until the end of 2026.