(Bloomberg) -- The OPEC+ laggards who promised extra oil production cuts to make up for flouting quotas have presented plans for delivering them.

Iraq and Kazakhstan agreed to submit plans by April 30 explaining how they’d compensate for pumping several hundred thousand barrels a day above the targets agreed to at the start of the year. Those schedules have been sent.

Kazakhstan’s Energy Ministry already confirmed by email last week that it had prepared a schedule showing how it would compensate for first-quarter over-production during the rest of the year.

Iraq also submitted its proposal, according to an official who asked not to be named. Its Oil Ministry didn’t immediately respond to a request for comment.

The OPEC+ alliance, led by Saudi Arabia and Russia, announced new production cuts at the start of 2024 in a bid to stave off a global oil surplus and shore up prices. Their intervention has paid off, supporting Brent crude futures near $90 a barrel despite concerns about economic growth in key consumers. 

Iraq and Kazakhstan have a patchy record of adhering to OPEC+ quotas, as the former seeks revenue to rebuild its shattered economy and the latter deploys new production capacity. 

The Organization of Petroleum Exporting Countries and its partners will meet on June 1 to decide whether to continue the output curbs — in full or partially — into the second half of the year. 

--With assistance from Nayla Razzouk.

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