BAKU, Azerbaijan, Feb. 2
Trend:
The oil production quota for Kazakhstan under OPEC+ for January and February amounts to 1.572 and 1.589 million barrels per day, respectively, Trend reports citing the Ministry of Energy of the Republic of Kazakhstan.
On February 2, a ministerial meeting of the member countries of the OPEC+ agreement was held by videoconference.
The meeting discussed the implementation of the obligations by the countries under the Agreement in December. The level of fulfillment of obligations by all OPEC member countries totaled 122 percent in December.
As a result of the meeting, it was decided to continue increasing the current level of production by OPEC+ countries by 400,000 barrels per day every month until the complete lifting of restrictions.
Commitments of Kazakhstan for March 2022 will reach 1.605 million barrels per day.
The end of June 2022 remains the compensation period for overfulfilled volumes.