According to the press service of Kazakhstan’s Ministry of Energy, the country took this obligation as followed to the OPEC+ decision.
On April 12 members of the OPEC+ built a consensus on a collective cut in oil production. Under this decision, all OPEC members and non-members must reduce their output by 9.7 million barrels per day. This agreement is the largest in oil production history. Kazakhstan, in turn, has supported this initiative and voluntary cut daily oil output by 390,000 barrels.
The cut in oil production was forced by low oil prices and a recession in the international economy. Because...