Foreign media have quoted sources and internal documents stating that, due to the general outlook for global crude oil product demand, the oil-producing alliance (OPEC+) has extended its voluntary crude oil product reduction plan until 2026.

According to its official production strategy, OPEC+ currently limits its total daily production to 39.725 million barrels until December 31, 2026.

Eight OPEC+ member countries have now extended their voluntary reduction of 2.2 million barrels of oil per day until the first quarter of next year and will begin to gradually increase production from April to September 2026, with the initial expectation that the reduction would only last until 2025.