According to secondary sources, Kazakhstan exceeded its obligations by 131 thousand barrels per day in March. The Ministry of Energy of the Republic of Kazakhstan explained that the non-compliance was due to climatic conditions and the duration of the heating season. However, Kazakhstan will continue to make every effort to fulfill its commitments and compensate for overproduction in the first quarter.
"In accordance with the decision of the 53rd meeting of the Joint Ministerial Monitoring Committee, Kazakhstan will submit a detailed compensation plan to the OPEC Secretariat by April 30, 2024," the Ministry of Energy of the Republic of Kazakhstan stated. Earlier, Kazakhstan extended its current commitments until the end of June 2024.
On March 19, Kazakhstan banned the export of gasoline, diesel fuel, and certain petroleum products for six months.
