Kazakhstan Reaffirms OPEC+ Commitment, Agrees to Adjust Production Schedule

The Ministry of Energy stated that Kazakhstan strictly adheres to OPEC+ agreements and is ready to revise the previously agreed schedule for gradually returning volumes to the market, Orda.kz reports.

During the 59th online meeting of the OPEC+ Joint Ministerial Monitoring Committee, Kazakhstan reiterated its commitment to the agreement.

Participants reviewed countries’ performance in meeting obligations for January–February 2025. The committee also evaluated voluntary production cuts by eight countries, including Kazakhstan, aimed at market stabilization.

On April 3, these countries held a joint meeting to discuss further production reductions.

A decision was made to adjust the previously agreed schedule for the gradual return of volumes to the market, taking into account the current situation and in the interests of stability,
 the department said.

Kazakhstan plans to cooperate with alliance partners, balancing international commitments with national interests.

Previous reports indicate that Kazakhstan has overproduced despite quotas.

Original Author: Raushan Korzhumbekova