BAKU, Azerbaijan, October 6. Kazakhstan's obligations under the OPEC+ deal for November will amount to over 1.6 million barrels per day, Trend reports via the Ministry of Energy of Kazakhstan.
On October 5, 2022, the Energy Minister Bolat Akchulakov took part in the work of the ministerial meeting of the countries participating in the OPEC+ agreement in Vienna.
At the meeting, implementation of obligations under the agreement by the countries in August was discussed. During the meeting it was decided to extend the agreement until December 31, 2023.
The participating countries agreed to reduce oil production by two million barrels per day from the level of August 2022, starting from November of this year.
The base level agreed at the 19th OPEC+ meeting [held on July 2021] was approved at the latest meeting.
It was decided to hold a meeting of the monitoring committee every two months, and ministerial meetings - every six months. The overproduction compensation period has been extended until March 31, 2023.