Kazakhstan to continue to increase oil production under OPEC + agreement

Kazakhstan will increase oil production under the OPEC + agreement in May, June, and July, Report informs with reference to the Ministry of Energy of Kazakhstan.

Obligations for Kazakhstan under OPEC + in May will amount to 1.463 million barrels per day, in June - 1.469 million barrels per day, and 1.475 million barrels per day in July.

Kazakhstan's obligations under the OPEC + agreement on production in April amounted to 1.457 million barrels per day, or 15% less than the base level of 1.709 million barrels per day in November 2018.

OPEC + countries will increase oil production by 350,000 barrels per day in May and June, and by 450,000 barrels per day in July, the Energy Ministry of Kazakhstan said.

Following the ministerial meeting of the countries participating in the OPEC + agreement on April 1, it was decided to collectively increase the current production level of OPEC + countries in May by 350,000 barrels per day, in June - by 350,000 barrels per day, in July - by 450,000 barrels per day.