NUR-SULTAN (Pakistan Point News / Sputnik - 02nd July, 2019) SULTAN, July 2 (Sputnik) - The extension of the deal to reduce oil production by OPEC+ countries will not lead to a decrease in oil production plans by Kazakhstan in 2019, First Vice Energy Minister Makhambet Dosmukhambetov told reporters on Tuesday.
On Monday, The Organization of the Petroleum Exporting Countries (OPEC) agreed on the extension of the OPEC-non-OPEC oil production cut deal for another nine months
"No, I think it will not affect. With all major repairs and halts of large [oil projects] this year we plan to mine 89 million tonnes [of oil]," he said, answering the relevant question.
In December, OPEC members together with non-cartel states collectively referred to as the OPEC+ group, agreed to cut overall oil production by 1.2 million barrels per day starting from 2019. OPEC pledged to reduce production by 800,000 barrels per day, while non-OPEC states agreed to cut it by 400,000 barrels per day.
