Eight OPEC+ countries discuss oil production plan

A meeting of the eight leading OPEC+ countries voluntarily reducing oil production took place in an online format, Report informs via TASS.

The meeting was attended by Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Algeria, Oman and Kuwait.

The eight leading OPEC+ countries have upheld the decision to suspend the increase in oil production in Q1 2026 and have kept oil production quotas for February and March at the level of December 2025, according to a statement on the OPEC website.

The next meeting of the OPEC+ eight will take place on February 1.