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OPEC+ countries reduce daily oil production by 400,000 barrels in October

13 November 2025 16:40 (UTC +04:00)

Although the “OPEC+” countries participating in the agreement to reduce oil production decreased their average daily oil production by 400,000 barrels in October 2025, taking into account voluntary restrictions and compensation volumes, they exceeded the plan by approximately 470,000 barrels, APA-Economics reports, citing the International Energy Agency (IEA).

According to the report, taking into account the voluntary reductions and the compensation of excess production, the target average daily production level set as part of the agreement for the “OPEC+” countries in October amounted to 36.28 million barrels, while the actual production reached 36.74 million barrels.

Thus, the volume of oil produced above the planned level amounted to approximately 470,000 barrels per day.

Note that “OPEC+” is an initiative to reduce oil production (in order to balance the market – ed.) that includes OPEC (Organization of the Petroleum Exporting Countries) and non-member countries. Azerbaijan is also a participant in the “OPEC+” agreement.

According to OPEC data, in October of this year, the average daily crude oil production in Azerbaijan amounted to 461,000 barrels.

According to the agreement reached by the ministers of the “OPEC+” countries, Azerbaijan’s production quota until the end of 2026 is set at 551,000 barrels per day.

Thus, in October, Azerbaijan lagged behind its “OPEC+” quota by 90,000 barrels.