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Kazakhstan plans to compensate for excess oil output before September 2025

"Kazakhstan reaffirms its commitment to the OPEC+ Agreement and supports decisions made jointly with OPEC+ member countries," the statement reads

ASTANA, July 8. /TASS/. Kazakhstan is committed to the OPEC+ agreement and intends to compensate for overfulfilled oil production volumes by September next year, the press service of the country’s Ministry of Energy reported.

"Kazakhstan reaffirms its commitment to the OPEC+ Agreement and supports decisions made jointly with OPEC+ member countries. Following the decision of the 37th OPEC+ ministerial meeting, Kazakhstan has prepared a detailed compensation plan, under which it will gradually compensate for the overfulfilled volumes in the first half of the year before September 2025," the statement said.

The department also noted that the Kazakh side will make every effort to comply with its obligations and compensate for overproduction in accordance with the planned compensation plan.

Previously, Kazakhstan extended its voluntary commitments to reduce oil production within OPEC+ until the end of 2025.

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Kazakhstan OPEC

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