The Caspian Pipeline Consortium's Novorossiysk terminal in 2021
OPEC’s discipline sets tone for 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
OPEC+ production fell in December 2025 relative to the previous month, according to Petroleum Economist figures, owing to a significant decline in Kazakh output. This enabled Astana to fully comply with its OPEC+ production quota for the first time in several months, albeit unintentionally, following late-November drone attacks that disrupted operations at the Caspian Pipeline Consortium (CPC) terminal near Novorossiysk and forced Kazakhstan to reduce exports and output in December. OPEC-9 production rose by 70,000b/d last month, while the OPEC+ declaration of cooperation (DOC) members showed a drop of 20,000b/d. The group must be pleased that only Gabon, a small producer, failed to meet it
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