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Kazakhstan backs OPEC+ extra oil output cuts

7 December 2019 14:40

NUR-SULTAN. KAZINFORM On December 6 the 7th OPEC and non-OPEC Ministerial Meeting took place in Vienna, Austria.

It agreed to cut output by an extra 500,000 barrels a day till the end of the first quarter of 2020.

Kazakhstan supported this decision assuming the commitment to cut oil output by 17,000 barrels a day. Consequently, the country’s current liabilities under the current agreement, reached last December, stand at 1,843 mln barrels a day.

Keywords: Oil & Gas, Kazakhstan,