New OPEC+ compensation plan for May raised by 70,000 bpd, Kazakhstan to add 60,000 bpd, Russia 10,000 bpd

MOSCOW. April 16 (Interfax) - The new compensation for previously over-produced oil under OPEC+ commitments assumes cutbacks of 70,000 thousand barrels per day more than previously, according to OPEC data.

Previously countries were supposed to compensate 309,000 bpd in May but now they must compensate 378,000 bpd, of which the plan for Kazakhstan has been increased by 60,000 bpd and that for Russia by 10,000 bpd.

The April plan has been reduced by 27,000 bpd to 222,000 bpd, including for Russia by 45,000 bpd to 6,000 bpd. Kazakhstan must compensate 63,000 bpd instead of the previously assumed 53,000 bpd.