OPEC+ members are increasingly tense, the decision to increase production delayed?

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Several OPEC+ alliances protest compliance with oil production by continuing the three-pronged plan of formal and voluntary production.


Two OPEC+ delegates told CNBC that the coalition has sharpened its focus on its members' compliance with their output pledges amid overproduction from heavyweights such as Iraq and Kazakhstan.



Russia, which previously suffered from sanctions in the West, is also now suffering from excess quotas set under the group's official policy.


Eight OPEC+ members, including Saudi Arabia, are expected to start returning 2.2 million barrels a day following voluntary cuts to the market from October.


Earlier this month, they postponed the phase that started in December. OPEC+ countries are operating two other production cuts under the official policy that they will produce a combined 39.725 million barrels per day next year.


The same eight members mentioned above separately curbed their production by another 1.7 million barrels per day through 2025 voluntarily.



The decision of OPEC+ in determining output reductions did not find an agreement with the worsening of the war in the hydrocarbon-rich Middle East and the stimulus of the Covid recovery in the world's main crude oil importer, which is China.

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