Kazakhstan remains fully committed to the OPEC+ agreement and will continue to fulfill its obligations under the agreements, including compensation mechanisms, El.kz reports.
At a meeting with representatives of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Algeria and Oman, Minister of Energy of the Republic of Kazakhstan Almassadam Satkaliyev confirmed that the country will continue to implement measures to stabilize the oil market.
During the discussions, the participants assessed the current state of the market and forecasts for the future. Kazakhstan has announced its readiness to take additional measures to meet its commitments, including the submission of an updated compensation plan for excess production volumes from January 2024.