Kazakhstan will fulfill its commitment to OPEC+ in 2025-2026, including compensation for overproduction in 2024Kazakhstan has reiterated its commitment to the OPEC+ agreement and will fulfill its obligations in 2025-2026, including compensation for overproduction in 2024, the Kazakh Energy Ministry said in a press release on Tuesday."In light of yesterday's 58th meeting of the OPEC+ Joint Ministerial Monitoring Committee, Kazakhstan confirms its commitment to the OPEC+ agreement. Kazakhstan will take all necessary steps in 2025 and 2026 to fulfill its obligations and compensate for the overproduction in 2024," the press release says.Energy Minister Almasadam Satkaliyev said earlier that Kazakhstan would not adjust its oil production target for 2025 until the next OPEC+ meeting"There are no trends yet that would prompt us to increase or decrease production volumes, we plan to produce 96.2 million, which is the target set by the government," Satkaliyev said.The minister added that the Energy Ministry had instruments to fulfill the commitment to OPEC+, including the limitation of oil production at the local fields, negotiations with the stakeholders of the large consortiums about the reduction of oil production and others.The Ministry of Energy also said earlier that the oil output target of 96.2 million tonnes for 2025 was set made without taking into account the commitment to OPEC+.Kazakhstan previously extended oil production restrictions by 2.2 million bpd for the 1st quarter of 2025 as part of the OPEC+ deal. The Ministry of Energy stated that Kazakhstan plans to maintain oil production volumes within the OPEC+ quota for 2025. (ICE ALMATY)

Fonte notizia: INTERFAX