Kazakhstan Meets OPEC+ Commitments in February

Collage: Kursiv.media, photo editor: Dastan Shanay Kazakhstan

Kazakhstan Meets OPEC+ Commitments in February

Kazakhstan took all the necessary steps to fully fulfill its OPEC+ commitments in February, as stated by Energy Minister Almassadam Satkaliyev during a virtual meeting on March 3, according to the ministry's press service.

The meeting involved eight OPEC+ countries that previously announced additional voluntary adjustments in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, The Caspian Post reports citing The Astana Times.

They reviewed global market conditions and future outlook.

Satkaliyev reiterated Kazakhstan’s commitment to the OPEC+ agreement, including its compensation mechanism. He added that the country will submit an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024.

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Kazakhstan took all the necessary steps to fully fulfill its OPEC+ commitments in February, as stated by Energy Minister Almassadam Satkaliyev during a virtual meeting on March 3, according to the ministry's press service.