OPEC publishes new compensation schedules for four overproducing countries, overall 'debt' falls to 4.3 mln bpd, to 3.4 mln bpd for Kazakhstan

MOSCOW. Feb 2 (Interfax) - Four OPEC+ countries will be required to cut production by almost 4.333 million barrels per day (bpd) between January and June to compensate for previous overproduction, OPEC said in its updated compensation schedule.

This figure is around 240,000 bpd less than last month's "debt", which required that Kazakhstan, Iraq, the UAE and Oman compensate 4.57 million bpd between December and June.

According to the updated schedule, Kazakhstan needs to cut production by 3.488 million bpd between December and June, compared with a debt of 3.536 million bpd according to the previous schedule, Iraq must cut production by 614,000 bpd, versus 771,000 bpd previously, the UAE must compensate 193,000 bpd versus 223,000 bpd and Oman 38,000 bpd versus 40,000 bpd.