15 Apr 2024 14:15

Kazakhstan overshoots OPEC+ oil quota by 131,000 bpd in March - ministry

ASTANA. April 15 (Interfax) - Kazakhstan overshot its oil production quota under the OPEC+ deal by 131,000 bpd in March, the Kazakh Energy Ministry's press service said on Sunday.

"According to secondary sources, Kazakhstan exceeded its obligations by 131,000 bpd in March. It is due to the weather conditions and the duration of the heating season," the press service said.

However, Kazakhstan "will continue making all possible effort to comply with its obligations and compensate production in the first quarter," it said.

"Additionally, in accordance with the decision of the 53rd session of the Joint Ministerial Monitoring Committee, Kazakhstan will present a detailed compensation plan to the OPEC Secretariat by April 30, 2024," it said.

Kazakhstan earlier extended its current obligations until late June 2024.