Kazakhstan to voluntarily cut oil output by 78,000 bpd from May to end of 2023

Kazakhstan will voluntarily cut its oil output by 78,000 barrels per day from May until the end of 2023 in coordination with other OPEC+ members, the country's ministry of energy said in a statement on Sunday.

"This voluntary cut is a precautionary measure in addition to the reduction in production agreed at the 33rd OPEC and non-OPEC Ministerial Meeting on October 5, 2022," it said.

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