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Kazakhstan, Russia and Iraq to Submit Compensation Plans to OPEC+ for Overproduction

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Kazakhstan, Russia and Iraq will submit an updated schedule of compensations for overproduction since January 2024 to the OPEC Secretariat by the end of June according to the Kazakh Energy Ministry's press service.

  • Russia, Kazakhstan and Iraq produced more than their quota during April, which partly explains why group output surpassed its monthly target by 290,000 b/d according to Energy Intelligence assessments.
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Kazakhstan, Russia and Iraq will submit an updated schedule of compensations for overproduction since January 2024 to the OPEC Secretariat by the end of June according to the Kazakh Energy Ministry's press service.

  • Russia, Kazakhstan and Iraq produced more than their quota during April, which partly explains why group output surpassed its monthly target by 290,000 b/d according to Energy Intelligence assessments.