OPEC+ on Thursday issued a new schedule for seven member nations to make further oil output cuts to compensate for pumping above agreed levels, which will more than overtake the monthly production hikes the group plans to introduce next month, Reuters reports.

The plan will represent monthly cuts of between 189,000 barrels per day and 435,000 bpd, according to a table, on OPEC's web site. The scheduled cuts last until June 2026.

Under the revised plan, Iraq will make the bulk of the contribution to the compensation cuts followed by Kazakhstan and Russia.

The plan also sees Saudi Arabia, one of the main stalwarts of adhering to the OPEC+ deal, making small compensation cuts of 6,000 to 15,000 bpd over a period of three months.

Kazakhstan has been producing at a record high as U.S. oil major Chevron (CVX.N), expands output at the largest Kazakh oilfield, Tengiz.

Recent OPEC data showed that Kazakhstan produced 1.767 million bpd of crude in February, up from 1.570 million bpd in January, compared with an OPEC+ quota of 1.468 million bpd.