NUR-SULTAN (Reuters) – Kazakhstan is willing to reach an agreement with other OPEC and non-OPEC pact members on the future of current oil production limits, a government source told Reuters Monday.
Members of the group known as OPEC + will consider whether to extend existing oil cuts for three or four months or to gradually increase production from During two days of January talks starting Monday, OPEC + sources told Reuters.
Commenting on reports that the Central Asian nation closely allied with Russia has opposed the extension of the curbs, a Kazakh government source said: “We are not opposed to (finding) a consensus. We have expressed our position. We are ready to discuss it with our partners “.
The source did not provide any other details. Russian news agency TASS quoted a Kazakh government source as saying the Nur-Sultan government proposed to ease production brakes in the first quarter of 2021.
The cuts forced Kazakhstan to reduce combined oil and gas condensate production to around 85.6 million tons from 90.5 million tons last year.
Reporting by Tamara Vaal; written by Olzhas Auyezov; editing by Louise Heavens, Kirsten Donovan