Kazakhstan intends to produce oil in previous volumes

Kazakhstan intends to maintain its previous plans for oil production from April 1, 2020, according to the official representative of the Ministry of Energy Serikzhan Ermentaev, Report informs citing TASS.

"Oil production will be carried out in previously planned volumes. There are no additional measures to increase production," he said, answering a question about whether the country will increase production from April 1.

Ermentaev noted that the average rate of oil production in the republic as of March 16, was 1,886 barrels per day.

The country's hydrocarbon production in 2019 was 90.5 million tons. In 2020, production is expected to reach 90 million tons.

After consultations in Vienna in March, the OPEC+ countries failed to agree on an additional cut in oil production amid falling demand due to coronavirus. OPEC offered further production cut of 1.5 mn barrels daily by the end of the year.