Kazakhstan to Compensate for Excess Oil Production Volumes by September 2025
The Ministry of Energy of the Republic noted that the country has prepared a detailed compensation plan.
Kazakhstan is committed to the OPEC+ agreement and intends to compensate for excess oil production volumes by September next year. This was reported by the press service of the Ministry of Energy of the Republic.
“Kazakhstan confirms its commitment to the OPEC+ Agreement and supports the decisions taken jointly with the OPEC+ member countries. Following the decision of the 37th OPEC+ ministerial meeting, Kazakhstan has prepared a detailed compensation plan, according to which it will gradually compensate for the volumes exceeded in the first half of the year by September 2025,” the text says.
The department also noted that the Kazakh side will make every effort to comply with its obligations and compensate for overproduction in accordance with the planned compensation plan.
Earlier, Kazakhstan extended its voluntary commitments to reduce oil production within the OPEC+ framework until the end of 2025.
