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OPEC+ countries failed to meet production targets last month

11 December 2025 14:14 (UTC +04:00)

In November 2025, OPEC+ countries, which entered into an agreement to reduce oil production, reduced their daily oil production by 290 thousand barrels, but fell short of the target plan by 140 thousand barrels, taking into account voluntary reductions and production compensation, APA-Economics reports, citing a report by the International Energy Agency (IEA).

According to the IEA, the target daily production of OPEC+ countries in November, taking into account voluntary reductions and compensation for excess production, was 36.38 million barrels, but actual production was 36.23 million barrels. Thus, the amount of the fall short of the plan was approximately 140 thousand barrels.

In November, the daily production of all OPEC+ countries (including Iran, Venezuela and Libya, which were exempted from quotas due to sanctions and other reasons - ed.) decreased to 43.25 million barrels.

It should be noted that OPEC+ is an initiative to reduce oil production (in order to balance the market - ed.) involving OPEC and non-OPEC countries. Azerbaijan is also a participant in the OPEC+ agreement.