Kazakhstan To Compensate In Summer For Exceeding OPEC+ Output Quotas In April - Ministry

Umer Jamshaid Published May 14, 2021 | 03:20 PM

ALMATY (UrduPoint News / Sputnik - 14th May, 2021) Kazakhstan exceeded in April its OPEC+ oil output quotas and will compensate for overproduction in summer, the energy ministry said on Friday.

"According to the preliminary data, Kazakhstan's oil daily production was 1.483 million barrels per day.

The deviation from the commitments will be further compensated taking into account major maintenance on large projects in the summer period," the statement said.

Kazakhstan seeks to follow its commitments in compliance with the OPEC+ agreement, which provides that the country's petroleum production must not exceed the quota of 1.457 million barrels per day.

The ministry added that overall, the country produced 7 million tonnes of petroleum and gas condensate in April.