Bozumbayev surprised at people's concern about OPEC
During a reporting meeting with citizens, one person asked the minister about the Vienna meeting results achieved by the OPEC Members and the obligations Kazakhstan had taken on.
"The OPEC has become a hot-button issue in Kazakhstan. Perhaps, after the oil price turned $30 a barrel, all Kazakhstanis got to know about the OPEC, the limits and how many barrels a day we had to produce", Bozumbayev said.
He reminded that during the meeting in Vienna the OPEC member states and non-members had signed the agreement extending the previous document to freeze oil production for 9 months more till April 1 next year.
"Therefore, we must carry on fulfilling the obligations, taken on for the previous six months, till July 1. Then, we are to keep the same production level at least this year. We, as all oil-producing countries, are interested in the oil price that is beyond the $30 level. As you remember, we ended Q1 last year with $30 a barrel. Owing to the actions taken and this agreement signed, the oil producing companies were selling Brent crude oil at $52 a barrel in Q1 this year. Currently, I saw that the price keeps going at the $51-52 level. I also think this is because the signed agreement is in force and works today. Kazakhstan, as far as possible and necessary, will maintain and fulfill its obligations", the minister said.