Kazakhstan plans by September 2025 to offset gradually the excess volumes of oil produced in the first half of the year under the OPEC+ deal, the country’s Energy Ministry said.
“Kazakhstan confirms its commitment to the OPEC+ deal, and supports the decisions taken jointly with OPEC+ member countries. Following the decision of the 37th OPEC+ ministerial meeting, Kazakhstan has prepared a detailed compensation plan, according to which the country will gradually offset the volumes exceeded in the first half of the year by September 2025,” the Energy Ministry said in a statement released on Monday. The statement indicates that Kazakhstan will make every effort to comply with its commitments and offset overproduction in line with the outlined compensation plan. Kazakhstan earlier extended its previously adopted voluntary commitments until the end of 2025.
Source:interfax.com