03 Feb 2021

Kazakhstan conveys its full commitment to compensate for overproduced volumes

Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021.

Over past months, Kazakhstan has taken steps to not only realize full conformity to its production adjustment, but also to compensate for overproduced volumes.  Its commitment to this process will continue in the coming months, as all Participating Countries in the Declaration of Cooperation (DoC) strive for a balanced market and much needed sustainable stability.

Kazakhstan offers its continued full support to the DoC, will take further steps to compensate for overproduced volumes, and underlines the importance of fairness and equitability in the DoC.