OPEC+ countries cut oil production by 820,000 bpd in April, fall short of target — IEA

MOSCOW, May 13. /TASS/. OPEC+ countries participating in the oil production limitation agreement reduced output by 820,000 barrels per day (bpd) in April 2026 and fell significantly short of planned targets, according to a report by the International Energy Agency (IEA). According to the IEA, the target production level for OPEC+ countries voluntarily limiting oil output stood at 36.15 mln bpd in April, while actual production amounted to 26.9 mln bpd. Thus, the shortfall from the target totaled around 9.25 mln bpd. In April, according to the IEA, Kazakhstan produced 930,000 bpd above target, Oman by 40,000 bpd, and Algeria by 10,000 bpd. At the same time, production in Iraq was 2.85 mln bpd below target, in the UAE by 940,000 bpd, in Saudi Arabia by 3.18 mln bpd, in Russia by 810,000 bpd, and in Kuwait by 2.02 mln bpd. Oil production by all OPEC+ countries in April declined by 830,000 bpd to 34.13 mln bpd.