4 days ago
Kazakhstan Says It Can't Cut Oil Output Despite OPEC+ Deal
Kazakhstan said it can't cut oil production right now, and even hopes to increase output beyond planned levels later this year, deepening a stand-off with its OPEC+ counterparts.
Output is more than 70% controlled by 3 large international consortiums and 'the republic has no right to enforce production cuts' on their fields, Energy Minister Yerlan Akkenzhenov told reporters in Astana on Thursday. Nor can it 'practically' cut output at other old fields operated by state-run KazMunayGas National Co. JSC, he said.
