By John Lee.
OPEC has said it has received updated compensation plans from several countries, including Iraq, to compensate for excess oil production.
Full statement from OPEC:
OPEC Secretariat receives updated compensation plans from Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman
As agreed during the virtual meeting held by the eight countries with additional voluntary adjustments, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, on 7 September 2025, the OPEC Secretariat received updated compensation plans as per the table above.
(Source: OPEC)
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