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Kazakhstan unprepared yet to reduce oil output - deputy energy minister

"First, we are ready to consider this issue (to freeze or to reduce oil output) at home," the country’s Deputy Energy Minister Magzum Mirzagaliyev said

VIENNA, October 29. /TASS/. Kazakhstan is not ready yet to sign an agreement cutting oil output, the country’s Deputy Energy Minister Magzum Mirzagaliyev said on Saturday.

"First, we are ready to consider this issue (to freeze or to reduce oil output) at home," Mirzagaliyev said. "We are not ready yet to sign it. To attend the meeting, exchange opinions and listen to the positions of OPEC countries and non-OPEC countries was crucial for us.".

"We have come to an agreement that we will meet in late November to continue the talks," the deputy minister said.

On October 28-29, Vienna hosted the first meeting of the OPEC special committee for the implementation of the Algiers agreements. The next meeting is scheduled for November 25-26 in Vienna. During an informal meeting at the 15th International Energy Forum in Algiers on September 28, the OPEC member-countries reached an agreement on limiting oil production to 32.5-33.0 million barrels per day.

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