Kazakhstan notifies OPEC it has no plans to cut oil output (Part 2)Kazakhstan will not cut oil output and has notified OPEC about this, Kazakh Deputy Energy Minister Alibek Zhamauov told Interfax."No, no, we won't be revising [the compensation schedule], we have already told OPEC that we are not going to cut output and will be producing according to our capacity," Zhamauov said.As reported, Kazakhstan exceeded its OPEC+ quota by 297,000 barrels per day in April, despite assurances to fulfill its commitments after a similar overproduction in March."Kazakhstan failed to meet its March target and exceeded its obligations under the OPEC+ agreement. In April, we plan to comply with the commitments and offset part of the overproduced amount," the Energy Ministry said.The ministry simultaneously affirmed that Kazakhstan remains committed to the agreement and its obligations. It is continuing negotiations with oil producers to identify subsoil users for potential production cuts, it said.Last year, Kazakhstan extended its OPEC+ production restrictions by 2.2 million bpd throughout Q1 2025. Kazakhstan intends to maintain oil production volumes within its OPEC+ allocated quota for 2025, the Energy Ministry said. (ICE ALMATY)

Fonte notizia: INTERFAX