Kazakhstan not exiting deal with OPEC

ASTANA. KAZINFORM - Minister of Energy Kanat Bozumbayev denied rumors Kazakhstan is exiting the oil output cut deal with OPEC.

Minister Bozumbayev stressed at "Green Bridge" Partnership Program international forum in Astana on Wednesday that Kazakhstan remains committed to the OPEC-led deal.

In his words, Kazakhstan will meet all the obligations under the deal it signed at the OPEC and non-OPEC states meeting last year.

Bozumbayev went on to remind that the deal allowed Kazakhstan to sell its oil for $52 per barrel in the 1H of 2017, compared to $32 per barrel in the 1H of 2016.

As to the speculations by some mass media regarding Kazakhstan's wish to bow out of the OPEC deal, Bozumbayev slammed false reports and emphasized that Kazakhstan is not drifting away or exiting from it [the deal].