The combined production of OPEC members remained above the group's overall output quota in February.
The
oil production flat in February from January at around 41.21 million barrels per day bpd, which, per Platts’ estimates, was about 175,000 bpd higher than the overall quota. previously announced in April 2023 and later extended until the end of 2024. The production estimates for February have shown that some of these – especially Iraq and Kazakhstan – continued to overproduce above their respective quotas. In the middle of February, both Iraq and Kazakhstan pledged to comply with the cuts they had announced.
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