Kazakhstan extended reduction in oil production until end of 2024

Kazakhstan extended until the end of 2024 a voluntary reduction in oil production by 78 thousand b/s within the framework of the OPEC+agreement. This was reported by the press service of the Ministry of Energy of the Republic.

“Kazakhstan will extend the voluntary reduction by 78 thousand b/s until the end of December 2024 as a warning measure in agreement with the OPEC+participants who announced voluntary reductions in April,” the department said.

The department noted that this reduction in oil production will be counted from the required production level, which was agreed at the 35th ministerial meeting of OPEC+ June 4.