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Kazakhstan To Cut Oil Output By Up To 40,000 Bpd Under New OPEC-non-OPEC Deal - Minister
Rukhshan Mir (@rukhshanmir) Published December 07, 2018 | 10:52 PM
Kazakhstan will reduce oil production under the new OPEC-non-OPEC agreement by 30-40,000 barrels per day, Energy Minister Kanat Bozumbayev told reporters on Friday.
"From 30,000 to 40,000," Bozumbayev said in response to a relevant question.
�Participants of the OPEC-non-OPEC oil production cut deal agreed during a meting in Vienna earlier in the day to reduce overall oil production by 1.2 million barrels per day.
"This is a six-month agreement. It's extension is possible if the market will not be balanced. If it is balanced, there will be no reason [to extend the agreement]," the minister added.
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