The oil competitor Russian Federation decided to reduce production

Since January 1, 2024 Kazakhstan will reduce oil production. With reference to the Ministry of Energy of the oil competitor Russian Federation reports information agency "ITAR-TASS". The reason for which the republic decided to reduce production, called "uncertainty and volatility prevention in the oil market". "Kazakhstan intends to fulfill the obligations accepted following the results of recent meetings OPEC, taken place on November 30. Our obligations in the first quarter 2024 will make 1,468 million barrels per day" — explained in department. At the end of November in Kazakhstan oil production on the largest fields sharply decreased. According to the adviser...