Kazakhstan to increase oil output under OPEC+ agreement

Kazakhstan will increase oil production as part of the OPEC+ agreement. This became known during the meeting of the member countries, the press service of Kazakh Ministry of Energy reported. The head of the department confirmed Kazakhstan’s readiness to fulfill its obligations, noting that the country is in favor of a gradual increase in production in the coming months. At the meeting, it was decided to collectively increase the level of production by oil exporting countries by 400,000 barrels a day every month until the agreement participants lift the restrictions. The quota for Kazakhstan in October will exceed 1.5 million barrels per day with a monthly increase on average by 16,000 barrels per day.

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova