According to assessments by the independent sources approved in the agreement, the Republic of Kazakhstan’s over produced in May by 45 thousand barrels per day.
Kazakhstan will address this overproduction and will fully comply in June, including complying with additional voluntary cuts. Furthermore, the Republic of Kazakhstan will compensate for the surplus in production since the beginning of 2024 during the compensation period, which extends until the end of September 2025.
The Republic of Kazakhstan will submit its updated compensation schedule to the OPEC Secretariat in the coming days.
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