Kazakhstan Says May Cut 2016 Oil Output if Prices Fall to $30/barrel

Source: Reuters 9/9/2015, Location: Asia

Kazakhstan may cut oil output to 73 million tonnes next year if oil prices drop to $30 per barrel, Deputy Energy Minister Uzakbai Karabalin told reporters.

Kazakhstan, the second-largest post-Soviet oil producer after Russia, lowered oil output by 1.2 percent last year to 80.8 million tonnes. It is officially forecast to produce 80.5 million tonnes this year.


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