Kazakhstan will
fulfill its obligations under the Organization of the Petroleum Exporting
Countries (OPEC+) agreement in 2025 and 2026, the Ministry of Energy announced
following the 58th meeting of the OPEC+ Joint Ministerial Monitoring Committee.
The country also reported compensating for last year’s oil overproduction. Despite
increasing raw material output this year after the launch of the Tengiz field
expansion project, the ministry stressed the particular importance of adhering
to the agreement. Kazakhstan will also continue negotiations with partners in
line with international law. Notably, the OPEC+ Committee has recently decided
to maintain its current oil production policy.
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