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Kazakhstan to extend voluntary oil production cut

Kazakhstan Materials 3 March 2024 23:16 (UTC +04:00)
Kazakhstan to extend voluntary oil production cut
Ali Gasimov
Ali Gasimov
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BAKU, Azerbaijan, March 3. Kazakhstan will extend the voluntary additional reduction in oil production by 82,000 b/d in the second quarter of 2024, the Ministry of Energy of Kazakhstan said, Trend reports.

This extension is part of the OPEC+ deal. As a result, oil production in Kazakhstan will amount to 1.468 mb/d by the end of June 2024.

The additional volumes will be gradually returned to the market in the future to maintain market stability, depending on its condition.

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