KazMunayGas Hasn’t Been Asked to Reduce Output In Line With New OPEC+ Plan

Kazakhstan may have announced a significant update to its oil production compensation plan to OPEC on Thursday in response to its overproduction in July—a sign that on paper, at least, it is committed to the OPEC+ agreement. But Kazakstan’s National Company, KazMunayGas, hasn’t been given any instructions to cut its oil production in line with that new compensation plan, Interfax reported on Friday. Kazakhstan has long touted its dedication to meeting its obligations under the OPEC+ framework, while consistently failing to reach…