OPEC+ to discuss the direction of Kazakhstan at a meeting on Thursday, the sources say

Written by Ahmed Ghadar and Alex Luller

LONDON (Reuters) – Two of the two delegates told Roterez that eight countries or OPEC+ will focus on Thursday discussions on how to persuade Kazakhstan to stop exceeding the production share and its plans to compensate for excessive production with the group increased the high gradual production.

Sources told Reuters that the Kazakhi output, angered many other members of the group, including the highest Saudi producers. Opec+ Central Asia, among other members, urges more discounts to compensate for excess production.

One of the delegates said: “Tomorrow’s meeting is just the realization of the new Kazakhstan Minister of Kazakhstan of the importance of fulfilling its required production and compensation for the surplus.” Both refused to define it by name because of the sensitivity of the issue.

The Ministry of Energy at Kazakhshasa Wopk immediately did not respond to a Reuters request for comment.

Last month, Kazakhstan President Erlan Akinsinov was appointed as a new energy minister after his predecessor was appointed head of the newly created atomic energy agency in the country.

Eight members of OPEC+, a group that includes the organization of oil -exporting countries and allies led by Russia, is scheduled to increase oil production by 135,000 barrels per day in May.

Both exporters said on Wednesday that the group is expected to continue in this plan, after similar comments on Tuesday from OPEC+ delegates.

May’s rise is the next increase in a plan agreed upon by Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Algeria, Kazakhstan and Oman to gradually relax on its latest production of 2.2 million barrels, which entered into force this month.

OPEC+ also has 3.65 million barrels per day from other output discounts in place until the end of next year.

This week, Russia has ordered the Black Sea station that deals with oil exports in Kazakhstan to close two of its three marinacles, a move that is widely expected to reduce the country’s production as a result.

The OPEC+ ministerial committee was initially scheduled to meet with the authority to recommend the largest collective changes in the production policy, on April 5, although one of the sources said this might also happen on Thursday.

(Additional reports by Maria Gordiva; Edit by Thomas Ganeovsky)