Kazakhstan continues to follow the agreements within the framework of OPEC+
Minister of Energy of the Republic of Kazakhstan Yerlan AKKENZHENOV participated in the 59th meeting of the Joint Ministerial Monitoring Committee of OPEC+ (JMMC), held in the format of a videoconference, Kazinform News Agency reports.
During the meeting, the Committee reviewed data on the conformity by the participating countries of the OPEC+ Agreement for January-February 2025, noted the overall conformity for the OPEC+ countries, and discussed current trends in the global oil market.
According to the ministry, the Committee appreciated the additional voluntary cuts by 8 countries in order to maintain market stability and noted the critical importance of achieving full compliance and compensation.
“Kazakhstan also participated in a meeting on April 3, during which eight countries implementing additional voluntary cuts conducted a joint assessment of the market situation. Following the meeting on April 3, it was decided to adjust the previously agreed schedule for the gradual return of volumes to the market, taking into account the current market conditions and in the interests of stability,” the statement reads.
Kazakhstan continues to follow the agreements within the framework of OPEC+ and will continue constructive cooperation with its partners in the alliance, guided by both international obligations and national interests.
Photo credit: The Ministry of Energy of the Republic of Kazakhstan.
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