The press service of the Ministry of Energy of Kazakhstan announced the country’s intention to reduce oil production by 78,000 barrels per day from May until the end of 2023. This is mentioned area ministries.
“Kazakhstan, together with other OPEC+ countries, will implement voluntary production cuts of 78,000 barrels per day from May until the end of 2023,” the statement said.
Nikolai Shulginov, former head of the Ministry of Energy of the Russian Federation declaration TASS said that this year the volume of oil and gas production in Russia will be lower than last year. One of the main reasons for this trend was international sanctions on the energy sector of the Russian economy.
He also added that the decline in gas production in the country this year will be due to the inability to quickly divert declining fuel volumes from the European energy market to other parts of the world.