Kazakhstan submits crude output compensation plans to OPEC
21:44, 24 July 2024
The OPEC Secretariat received compensation plans from Iraq, Kazakhstan, and the Russian Federation for their overproduced volumes for the first six months of 2024 (January through June), Kazinform News Agency reports.
“This volume totaled about 1,184 tb/d for Iraq, 620 tb/d for Kazakhstan, and 480 tb/d for the Russian Federation.
The 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on June 2, 2024 reiterated the critical importance of adhering to full conformity and the compensation mechanism,” a press release from the OPEC reads.
