Russia Says Kazakhstan Committed To Oil Output Deal: Agencies

Oil Firms Could Waste Trillions If Climate Targets Reached -report

(Reuters) – The energy ministers of Russia, Saudi Arabia and Kazakhstan did not discuss any adjustments to output levels Kazakhstan agreed to as part of a global oil output deal, Russian Energy Minister Alexander Novak was quoted as saying on Saturday.

“No, we did not discuss (it). Kazakhstan is committed to fulfilling the agreement,” Novak was quoted by Russian news agencies as saying after talks between the three ministers.

As part of a global deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, Astana pledged to keep overall production at 1.7 million barrels per day (bpd).

But Kazakh Energy Minister Kanat Bozumbayev said last month that Kazakhstan would need to adjust the terms of the deal as it expects to boost output later this year thanks to the giant Kashagan field.

(Reporting by Maria Kiselyova in Moscow and Olzhas Auyezov in Astana; editing by David Clarke)

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