Daily crude oil production quotas in the OPEC+ coalition are being partially updated.
Medianews.az reports that according to the agreement, from June 1, Saudi Arabia is allowed to increase production to 10 million 291 thousand, Russia to 9 million 762 thousand, Iraq to 4 million 352 thousand, Kuwait to 2 million 628 thousand, Kazakhstan to 1 million 599 thousand, Algeria to 989 thousand, Oman to 826 thousand barrels.
The quotas for the remaining countries are as follows:
Mexico - 1 million 753 thousand barrels
Nigeria - 1 million 500 thousand barrels
Azerbaijan - 551 thousand barrels
Malaysia - 401 thousand barrels
Congo - 277 thousand barrels
Bahrain - 196 thousand barrels
Gabon - 177 thousand barrels
South Sudan - 124 thousand barrels
Brunei - 83 thousand barrels
Equatorial Guinea - 70 thousand barrels
Sudan - 64 thousand barrels.
OPEC includes Equatorial Guinea, Algeria, Iraq, Iran, Congo, Kuwait, Libya, Gabon, Nigeria, Saudi Arabia, Venezuela, while Azerbaijan, Bahrain, Brazil, Brunei, South Sudan, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan are considered partners.
In Azerbaijan's 2026 budget, the price of one barrel of oil is taken as 65 dollars; Azerbaijani oil of the "Azeri Light" brand started January at 65.71, February at 69.72, March at 79.60, April at 132.35, and May at 122.26 dollars.