OPEC to amend methodology to determine reference production levels 'for fair distribution of quotas' - Kazakh Energy Ministry

ASTANA. May 29 (Interfax) - The OPEC Secretariat will present proposals to amend the methodology for determining reference production levels which would be the basis for determining production for 2027, Kazakh Deputy Energy Minister Alibek Zhamauov told reporters.

Zhamauov said that the reasons for amending the methodology are not yet clear. "It was said that this would be for a fair distribution of quotas," he said. The OPEC Secretariat presented Proposals on this during yesterday's meeting of OPEC+ ministers.

The Secretariat must present the new methodology by the end of July.