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World oil prices

Kazakhstan intends to cooperate with OPEC on oil production cut deal

At the meeting in Vienna, the participants agreed to extend the oil production cut agreement, that was signed during the first ministerial meeting of the OPEC + in 2016

ASTANA, December 4. /TASS/. Kazakhstan intends to continue cooperation with the OPEC countries under the agreement on the reduction of oil production, the press service of the Kazkah Energy Ministry reported on Monday.

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OPEC ministers agree to extend oil production cut deal until end of 2018

On November 29-30, in Vienna, the delegation of Kazakhstan headed by the Vice-Minister of Energy Magzum Mirzagaliev took part in the third ministerial meeting of the OPEC states and the non-OPEC oil producing countries.

"Speaking at the event, Magzum Mirzagaliyev voiced Kazakhstan's intention to continue cooperation with the OPEC countries as part of the agreement without harming its national interests and the interests of large investors working in the oil industry of the country," the report said.

At the meeting in Vienna, the participants agreed to extend the oil production cut agreement, that was signed during the first ministerial meeting of the OPEC + on December 10, 2016. The agreement was extended until the end of 2018 by signing the Declaration of Cooperation.

Along with the OPEC countries, the declaration was signed by Kazakhstan, Azerbaijan, Bahrain, Brunei, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan," the ministry said.

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