Deputy Prime Minister Alexander Novak arrived in Astana today, where he participated in a trilateral meeting. His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, the Minister of Energy of the Kingdom of Saudi Arabia and Co-Chair of the OPEC+ Group, joined the meeting via telephone. The meeting was also attended by Almasadam Satkaliyev, the Minister of Energy of the Republic of Kazakhstan.
During the meeting, the participants underscored the crucial importance of maintaining stability and equilibrium in global oil markets, acknowledging the significant role played by the OPEC+ Group in this domain. They additionally highlighted the necessity of cooperation among OPEC+ member countries and reiterated their full commitment to the agreement, including the voluntary production cuts. This includes the reductions voluntarily agreed upon by the eight participating countries, as well as compensating for any quantities produced in excess. The Kazakh Minister of Energy reaffirmed Kazakhstan's unwavering commitment to the agreement, voluntary production cuts, and addressing production increases in alignment with the updated schedule submitted to the OPEC Secretariat.
