Shafaq News – Baghdad

Eight OPEC+ members have agreed on crude oil production targets for the first quarter of 2026, reaffirming their commitment to market stability amid firm economic projections and falling global inventories.

The producers renewed their adherence to the Nov. 2, 2025, decision to freeze planned output hikes through January, February, and March 2026, citing seasonal demand patterns.

According to OPEC data, Iraq’s Q1 2026 quota is set at 4.273 million barrels per day, covering all three months.

Saudi Arabia retains the largest allocation at 10.103 million bpd, followed by Russia at 9.574 million bpd. Iraq ranks third, ahead of the UAE with 3.411 million bpd and Kuwait at 2.580 million bpd.

Kazakhstan’s first-quarter output stands at 1.569 million bpd, followed by Algeria at 971,000 bpd and Oman at 811,000 bpd.