HOUSTON (Pakistan Point News / Sputnik - 13th March, 2019) Kazakhstan will responsibly fulfill its obligations under the Organization of the Petroleum Exporting Countries (OPEC)-non-OPEC deal to reduce oil production, Kazakh Energy Minister Kanat Bozumbayev said on Tuesday, adding that the deal had removed the oil market's volatility.
"We are actively participating in the deal, the so-called OPEC-non-OPEC deal. We have made commitments and this year we will strictly comply with them," Bozumbayev said at the CERAWeek conference in Houston, Texas.
"This deal also affects the market, prices. You see that this year, in the first quarter, volatility [of the oil market] disappeared. This is good for the market in general � both for oil producers and consumers," Bozumbayev stated.
