Kazakhstan will decide on oil production according to national interests, ignoring OPEC+ pressures, says Energy Minister Erlan Akkenzhenov
Delia Niculescu
International
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Kazakhstan's energy minister Erlan Akkenzhenov says the country will prioritize national interests in oil production decisions, despite OPEC+ displeasures. Kazakhstan, which extracts about 2% of global oil, has reported a drop in output but it remains above OPEC+ quotas. Large oil projects are controlled by foreign companies and Kazakhstan risks significant losses if it cuts output. It also expects to export 55 million tons of oil in 2023 through the CPC pipeline.
Sources
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