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Kazakhstan to compensate excess oil production in May — Energy Ministry

The Republic continues to be fully committed to the OPEC+ agreement

ASTANA, June 12. /TASS/. Kazakhstan’s authorities will compensate excess oil production in May within the OPEC+ agreement framework, the press service of the Ministry of Energy said.

"The Republic of Kazakhstan continues to be fully committed to the OPEC+ agreement. According to assessments of independent sources approved by the agreement, the Republic of Kazakhstan was above commitments in May by 45,000 barrels daily. Kazakhstan will compensate this overproduction and fully honor commitments in June, including additional voluntary cuts," the ministry informed.

Kazakhstan will also compensate oil volumes overproduced since early 2024 during the compensation period lasting until late September 2025. "The Republic of Kazakhstan will present its updated schedule of compensations to the OPEC Secretariat in coming days," the press service added.

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