Kazakhstan Confirms Commitment To OPEC+ Agreement

2025-02-04 01:10:01

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, February 4. Kazakhstan is prepared to compensate for excess oil production under the OPEC+ framework, Trend reports via the Ministry of Energy of Kazakhstan.

"In light of yesterday's 58th meeting of the OPEC+ Joint Ministerial Monitoring Committee, Kazakhstan reaffirms its commitment to the OPEC+ agreement. Kazakhstan will take the necessary measures in 2025 and 2026 to fulfill its obligations and compensate for overproduction in 2024," the ministry stated.

Additionally, despite an increase in production this year due to the launch of the Tengiz field expansion project, Kazakhstan emphasizes the importance of adhering to its commitments under the OPEC+ agreement and will hold negotiations with its partners within the framework of international law.

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