Kazakhstan to offset for Q1 oil overproduction within OPEC+ during 2024Kazakhstan has prepared a plan to compensate for oil overproduction as part of OPEC+ commitment during 2024, the press service of the Republic’s Ministry of Energy reported. “As a result of the decision at the 53rd meeting of the Joint Ministerial Monitoring Committee (JMMC), Kazakhstan has prepared a detailed plan, according to which it will gradually compensate for the volumes exceeded in the first quarter during 2024,” the message published on Wednesday says.The department assured that it will make every effort “to comply with its commitments and compensate for overproduction in accordance with the adopted compensation plan.”As reported, in March Kazakhstan exceeded its oil production quota under the OPEC+ commitment by 131,000 barrels per day due to climatic conditions and the long heating season.Previously, Kazakhstan extended its current commitments until the end of June 2024. (ICE ALMATY)

Fonte notizia: INTERFAX