Russian Deputy Prime Minister Alexander Novak, who is co-chair of OPEC+’s ministerial monitoring committee, called on Kazakhstan to maintain coordination within the organization during a meeting with Kazakh First Deputy Prime Minister Roman Sklyar, the Russian government’s press service said, as per Interfax.

Novak praised cooperation between Russia and Kazakhstan within OPEC+, which he said plays a decisive role in ensuring stability and predictability in global oil markets. “The deputy prime minister urged continued coordination of collective actions within OPEC+, as they serve long-term national interests and strengthen participating countries’ economies,” the press service said.

Kazakhstan has been among OPEC+ members violating production cut commitments. Earlier this year, the country launched new production capacity at the Tengiz field and has since exceeded its quota by 300,000-400,000 barrels per day each month. Energy Ministry officials said that they would not curb output as they cannot influence foreign field operators.

However, Kazakh Energy Minister Yerlan Akkenzhenov denied any plans to leave OPEC+. “Where did this idea that Kazakhstan is considering a withdrawal from OPEC+ come from? This issue isn’t on our agenda,” he said.
Source: Reuters