Kazakhstan Set To Cut Oil Output Under OPEC Compensation Plan

2026-04-07 10:05:33

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, April 7. Kazakhstan is set to reduce its oil production through the first half of 2026 as part of an updated compensation plan submitted to the OPEC Secretariat, Trend reports citing the OPEC.

The OPEC Secretariat has received updated compensation plans from Iraq, the United Arab Emirates, Kazakhstan, and Oman.

According to the plan, Kazakhstan is set to reduce its fuel production by 619,000 barrels per day (b/d) in March, increasing the cut to 789,000 b/d in April. For June and July, the country's compensation volume will reach 879,000 b/d.

Meanwhile, Iraq required to reduce production by 417,000 b/d in March, UAE required to cut production by 178,000 b/d in March. Oman is scheduled to reduce output by 16,000 b/d in May and 20,000 b/d in June.

These adjustments follow a virtual meeting held on March 1, 2026, by eight OPEC+ countries, including Saudi Arabia, Russia, Kuwait, and Algeria.

Meanwhile, Kazakhstan's national company KazMunayGas (KMG) reported that its oil and gas condensate production grew 10% year-on-year to 26.2 million tonnes in 2025.

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