Energy Minister: Kazakhstan keeps committed to OPEC deal

ASTANA. KAZINFORM Minister of Energy Kanat Bozumbayev says Kazakhstan fulfills its obligations to the Organization of the Petroleum Exporting Countries better than the Member States, Kazinform correspondent reports.

"Non-OPEC countries, including Russia and Kazakhstan, primarily Mexico, fulfill their obligations under the agreement with the OPEC for over 90%. OPEC countries fulfill their obligations less than non-members. This is primarily the case of Libya and Nigeria. We are more prone to follow agreements," the Minister of Energy told reporters on the sidelines of the XI KAZENERGY Eurasian Forum.

According to him, in August, Kazakhstan outstripped the deal target as the country produced 1,643,000 barrels instead of 1,680,000 barrels set.

"And a similar situation is observed within the first seven days of September. As we said, Kazakhstan will fulfill its obligations on average over the year. Sometimes exceeding, and at some points below, however, Kazakhstan will fulfill and strives to fulfill its obligations," the minister assured.

As it was earlier reported, the OPEC and ten non-member countries decided to extend the production cut for another nine months, i.e. until the end of March 2018.