Kazakhstan backs global oil pact extension - minister - Reuters

Kazakhstan backs global oil pact extension - minister - Reuters:

Kazakhstan supports extending a global output cut deal by OPEC and non-OPEC producers until the end of this year, Kazakh Energy Minister Kanat Bozumbayev told Reuters. 


Bozumbayev said Central Asia’s biggest oil exporter had outperformed in terms of compliance with the pact so far this year by cutting output to 1.76 million barrels per day (bpd), well below its quota of 1.86 million bpd.

“I absolutely agree with my colleagues (from Russia and Saudi Arabia) in that the agreement needs to be extended,” Bozumbayev said in a written reply to questions from Reuters.