OPEC+ Compensation Cuts Triple as Key Producers Move to Rein in Oversupply

Four key Opec+ producers have pledged to deepen their compensation cuts in the first half of 2026 as the organization looks to improve compliance amid oversupplied oil markets. The UAE, Iraq, Kazakhstan and Oman will implement output cuts totaling 829,000 barrels per day by June, three times higher than their previous pledge. Kazakhstan will account for the lion’s share of the cuts after pledging to cut 669,000 bpd up from 131,000 bpd; Iraq will maintain its cuts at 100,000 bpd by midyear; UAE will hike its cut to 55,000 bpd from just 10,000…