OREANDA-NEWS. The Ministry of Energy of Kazakhstan intends to limit oil production in medium and large fields of the country in May-June under the OPEC+ agreement. This was reported by the press service of the Ministry of Energy of the Republic on Friday.

"The Ministry has developed a draft government decree" On introducing temporary restrictions on the use of subsoil plots for exploration and production and hydrocarbon production operations "with a list of individual subsoil plots for which it is necessary to limit oil production for May - June of the current year. to fields belonging to the category of medium, large and giant fields", the report said.

Under the OPEC+ agreement, which provides for a collective reduction in oil production by 9.7 million barrels per day for two months, Kazakhstan has committed to reduce production by 390 thousand barrels per day.

"Due to the presence of a significant surplus of oil reserves amid falling demand for oil in the world and in Kazakhstan, there is a risk of overstocking of oil storage facilities in the second quarter of this year and emergency shutdowns of Kazakhstani fields", the Ministry of Energy noted.