OPEC+ Countries, Including Kazakhstan, to Boost Oil Production by 547,000 Barrels a Day in September
Photo: Pixabay.com
Saudi Arabia, Russia, Kazakhstan, and five other OPEC+ members will increase oil production by 547,000 barrels per day starting in September, Orda.kz reports.
The decision was announced after a video conference on August 3.
According to the OPEC+ secretariat, the move reflects “favorable current market conditions,” supported by low inventory levels.
The increase follows a December 2024 agreement to gradually and flexibly restore previously cut production volumes — totaling 2.2 million barrels per day from April 1, 2025.
In early July, the same group of eight OPEC+ countries approved an increase of 548,000 barrels per day for August — exceeding market expectations and accelerating from the previous monthly pace of 411,000 barrels.
Original Author: Raushan Korzhumbekova
Latest news
- Ecology Ministry Explains 13 Million Tenge Fine For Picking Dandelions
- Kazakhstan Refineries Increase Oil Processing Depth To 90%
- High Rates No Longer Keep Kazakh Banks’ Profits Rising, Analysts Say
- Almaty Health Officials Prepare for Possible Hantavirus Cases
- Ministry Says Saiga Deaths Remain Within Natural Limits
- Kazakhstan Faces Shortage of Doctors and IT Specialists
- Kazakhstan Petition Calls for VAT Removal on Feminine Hygiene Products
- Kazakhstan to Publish Register of Convicted Economic Crime Offenders
- Kazakhstan’s Economy Grew 3.6% in Four Months
- Shymkent Colleges Used Fictitious Students to Steal Over 1.3 Billion Tenge
- Almaty Court Extends Chechen Activist’s Extradition Arrest
- Record Rainfall Hits Almaty
- Falling Caspian Sea Level Reshapes Northern Coastline
- Kazakhstan Says It Is Ready To Help Resolve Iran’s Nuclear Issue
- Pashinyan Explains Why He Will Skip The EAEU Summit In Astana
- Kazakhstan To Gradually Cut University Programs In Oversupplied Fields
- Kazakhstan Offers Indonesia A Route To Central Asia And Europe
- Kazakhstan Tightens Rules for Master Plans and Urban Development
- Kazakhstan Approves Rules for Digital Tenge Circulation
- Military Jets to Conduct Training Flights Over Astana
