Kazakhstan and other OPEC+ participating countries plan to implement additional reduction in production starting from May 2023

Kazakhstan will implement a voluntary cut of 78 kbd barrels per day from May till the end of 2023 in coordination with other OPEC and non-OPEC Participating Countries in the Declaration of Cooperation.

 

This voluntary cut is a precautionary measure in addition to the reduction in production agreed at the 33rd OPEC and non-OPEC Ministerial Meeting on October 5, 2022.