Kazakhstan Fulfills OPEC+ Commitments as Key Market Review Takes Place

Kazakhstan has taken all necessary measures to fulfill its obligations, Energy Minister Almasadam Satkaliyev announced, according to the country’s Energy Ministry.

In the virtual meeting held on 3 March 2025, the eight OPEC+ countries which previously announced additional voluntary adjustments in April and November 2023 namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman reviewed global market conditions and the future outlook, The Caspian Post reports, citing Kazinform.

Minister Satkaliyev reiterated that Kazakhstan remains fully committed to its obligations under the OPEC+ agreement, including the compensation mechanism.

Kazakhstan will take further measures to comply with its obligations, including the submission of an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024, he said.