Kazakhstan Reaffirms Commitment to OPEC+ Oil Production Cuts

Kazakhstan, Russia and Saudi Arabia highlighted the importance of maintaining stability and balance in global oil markets.

Photo: Reuters

Today in Astana, Kazakhstan's Minister of Energy Almassadam Satkaliyev held a trilateral meeting with His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy of Saudi Arabia, who participated by phone, and Russian Deputy Prime Minister Alexander Novak, OPEC+ Co-Chairman, in person.

During the meeting, the participants highlighted the importance of maintaining stability and balance in global oil markets and highlighted the significant role played by the OPEC+ Group in this regard, The Caspian Post reports, citing Kazinform.

Kazakhstan affirmed its full commitment to the Agreement, the voluntary production cuts, and compensating in accordance with the updated Compensation plan submitted to the OPEC Secretariat.