• National interests take priority over OPEC+ interests when it comes to oil output levels.
  • Kazakhstan cannot reduce oil output from old oilfields, as it would destroy them.
  • Cannot order oil majors to cut output either.
  • We will support oil output increase at the Chevron-led Tengiz field.
  • No major maintainance planned at Caspian pipeline this year.
  • Kazakhstan is able to increase oil supplies to Germany via Russia, depending on position of Moscow.
Source: Forex Live