Kazakhstan Develops Gradual Compensation Plan for Oil Overproduction
The Energy Ministry reported in an April 24 statement that in response to the decision of the 53rd meeting of the Joint Ministerial Monitoring Committee, Kazakhstan has developed a comprehensive plan for the gradual compensation of overproduction observed during the first quarter of 2024.
The country reiterated its dedication to the Organization of the Petroleum Exporting Countries agreement, affirming its commitment to exerting every effort to adhere to its obligations.
“We understand the importance of each country’s conformity to the obligations and maintaining cooperation to stabilize the oil market,” reads the statement.(Source:astanatimes)
Earlier, Kazakhstan extended its existing voluntary obligations until the end of June.
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