ASTANA – Kazakhstan took all necessary measures to fully implement its OPEC+ obligations in February, Energy Minister Almassadam Satkaliyev stated during a March 3 virtual meeting, reported the ministry’s press service.
The meeting involved eight OPEC+ countries that previously announced additional voluntary adjustments in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman. They reviewed global market conditions and future outlook.
Satkaliyev reiterated Kazakhstan’s commitment to the OPEC+ agreement, including its compensation mechanism. He added that the country will submit an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024.
