Kazakhstan to compensate for exceeding Opec+ quota in March

KAZAKHSTAN will compensate for exceeding its oil production quota under the Opec+ agreement in March, the country’s energy ministry said in a statement on Sunday (Apr 14).

The ministry said that according to “secondary sources”, Kazakhstan produced 131,000 barrels per day above its quota in March, due to weather conditions and heating requirements.

It said it would submit a compensation plan to the group’s monitoring committee by Apr 30.