ALMATY (Pakistan Point News / Sputnik - 11th January, 2021) Kazakhstan produced 6.3 million tonnes of oil excluding condensate in December 2020, marking a 96-percent compliance with the OPEC+ deal, the republic's energy ministry told Sputnik on Monday.
"In December 2020, according to preliminary official data, 6.3 million tonnes of oil excluding condensate were produced in the republic. Fulfillment of the obligations under the OPEC + agreement amounts to 96 percent," the press service said.
According to preliminary data, 85.6 million tonnes of oil and condensate were produced in Kazakhstan in 2020.
Earlier in January, OPEC+ agreed that only Russia and Kazakhstan could slightly increase production over the next two months, while the other participants in the oil output cut deal would keep slashing the same amount of production as in January.
According to the cartel's figures, Russia will be increasing production by 65,000 barrels a day in February and March, while Kazakhstan will increase production by 10,000 barrels a day over the same period. Overall, the level of oil production cuts would ease from 7.2 million barrels a day in January to 7.125 mbd in February and 7.05 mbd in March.
