Deputy Prime Minister Alexander Novak had a telephone conversation with Minister of Energy of the Republic of Kazakhstan Almasadam Satqaliev.
The parties underscored the importance of the OPEC+ role in stabilising world oil markets, the need for cooperation and observance of the agreements, including voluntary decline in oil output and compensation for any overproduction in excess of the agreed levels.
Following the phone call, both sides reaffirmed their countries’ full commitment to the agreement and voluntary production cuts, as well as their pledge to compensate in accordance with the updated schedules, which will be submitted to the OPEC Secretariat. This will contribute to the stability of the world oil markets and spell support for the world economy.
