Commodities
Kazakhs Still Plan Oil Output Hike Despite OPEC+ Cuts Extension
- Prime minister says 2025 oil output target must be hit
- Over-production has put Kazakhstan at odds with OPEC+ partners
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Kazakhstan is sticking to its plan to raise oil output next year, potentially creating further tension with its OPEC+ partners.
“I order the Energy Ministry to intensify efforts to increase natural gas and oil output,” Prime Minister Olzhas Bektenov told a government meeting in Astana on Tuesday. The Energy Ministry must ensure that 2025 oil production is at the planned level, he said.