12/6/2019, 11:55 AM (Source: TeleTrader)
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Kazakhstan plans to keep oil output at current levels - sources

Kazakhstan is planning to keep its oil output at current levels despite OPEC+'s reported efforts to deepen output cuts, Russian sources said on Friday.

OPEC ministers struggled to reach a consensus on the future of their production cut deal as they debated much longer than expected on Thursday. However, they reportedly eventually managed to agree in principle to cut oil output by additional 500,000 barrels per day in the first quarter of 2020.

The cartel met with non-OPEC output cut participants, including Kazakhstan, earlier today and the final decision on the agreement is set to be announced at a press conference later in the day.

Breaking the News / NP