Kazakhstan Denies Rumors of a Possible Exit From the OPEC+ Deal
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Kazakhstan’s Energy Ministry has responded to rumors that the country could end its participation in the OPEC+ agreement, Orda.kz reports.
On April 29, after the UAE’s statement about leaving OPEC and OPEC+, some foreign analysts suggested that Kazakhstan might also soon withdraw from the deal on controlling oil production. The Energy Ministry’s press service commented on the situation today.
Earlier, Orda.kz wrote that the UAE had announced its withdrawal from OPEC and OPEC+. That decision sparked a wave of discussion in the market and among analysts. Experts warned that such a precedent could encourage other countries to reconsider their participation. Iraq and Kazakhstan were named among the first possible candidates because of tensions between domestic production goals and obligations under OPEC+.
Kazakhstan’s Energy Ministry today denied any intention to leave the agreement and said the country would continue to participate.
At present, the issue of changing the format of the country’s participation in the agreement is not on the agenda.the ministry’s press service said.
Original author: Elvira Ivannikova
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