OPEC+ to discuss Kazakhstan output at Thursday's meeting, sources say

Ahmad Ghaddar and Alex Lawler

Wed, Apr 2, 2025, 5:43 AM 2 min read

By Ahmad Ghaddar and Alex Lawler

LONDON (Reuters) - Eight OPEC+ countries gathering connected Thursday volition absorption debates connected however to person Kazakhstan to halt exceeding its output quota and its plans to compensate for overproduction arsenic the radical steps up gradual accumulation hikes, 2 delegates told Reuters.

Record Kazakh output has angered respective different members of the group, including apical shaper Saudi Arabia, sources person told Reuters. OPEC+ is urging the Central Asian country, among different members, to marque further cuts to compensate for excess production.

"Tomorrow's gathering is conscionable to marque the caller Kazakhstan curate alert of the value of gathering his required accumulation and compensating for the surplus," 1 of the delegates said. Both declined to beryllium identified by sanction owed to the sensitivity of the matter.

The Kazakh vigor ministry and OPEC did not instantly reply to a Reuters petition for comment.

Last month, Kazakhstan's president appointed Erlan Akkenzhenov arsenic caller curate of vigor aft his predecessor was named the caput of the country's recently created atomic vigor agency.

Eight members of OPEC+, a radical that includes the Organization of the Petroleum Exporting Countries and allies led by Russia, are scheduled to rise lipid output by 135,000 barrels per time successful May.

The radical is expected to proceed with this plan, some sources connected Wednesday said, pursuing akin comments connected Tuesday from different OPEC+ delegates.

The May hike is the adjacent increment of a program agreed by Russia, Saudi Arabia, UAE, Kuwait, Iraq, Algeria, Kazakhstan and Oman to gradually unwind their astir caller output chopped of 2.2 cardinal bpd, which came into effect this month.

OPEC+ besides has 3.65 cardinal bpd of different output cuts successful spot until the extremity of adjacent year.

This week, Russia ordered the Black Sea terminal handling Kazakhstan's lipid exports to adjacent 2 of its 3 moorings, a determination which is wide expected to slash the country's accumulation arsenic a result.

An OPEC+ ministerial committee, with the powerfulness to urge to the larger radical changes successful accumulation policy, was initially scheduled to conscionable connected April 5, though 1 root said this whitethorn besides instrumentality spot connected Thursday.

(Additional reporting by Mariya Gordeyeva; Editing by Tomasz Janowski)