President voiced Kazakhstan's oil production cut commitment

ASTANA. KAZINFORM President Nursultan Nazarbayev has stated that Kazakhstan would be in keeping with the OPEC oil output cut decision, Kazinform correspondent reports. 

"Kazakhstan has reduced output by 20,000 barrels, although it is not easy for us after the Kashagan oilfield started its production. (...) The average price is $52-55 per barrel of oil. We planned budgets for $40-45. If it works further, we will keep our solidarity with other oil producing countries to maintain such price opportunity," the Head of State said in response to reporters' questions during the Akorda press briefing.

Earlier , Minister of Energy Kanat Bozumbayev claimed that Kazakhstan fulfilled its obligations to the Organization of the Petroleum Exporting Countries better than the OPEC Member States.