ECONOMY


Kazakhstan says may offer to freeze its output at Vienna talks

Baku, December 9 AZERTAC

Kazakhstan may offer to freeze its oil output at last month's level at the talks between OPEC and non-OPEC producers in Vienna, Kazakh Energy Minister Kanat Bozumbayev said.

"We had record-high output (in November) and we think we can at least talk about freezing at the November level on our part," Bozumbayev told reporters on the eve of the meeting at which the cartel hopes to persuade non-member producers to join it in reducing oil production.

According to Reuters, non-OPEC producers are expected to contribute a combined cut of 600,000 barrels per day (bpd), with the half coming from Russia, the world's top oil producer and the biggest producer outside OPEC.

According to official data, daily output was 234,500 tonnes (about 1.8 million barrels) as of November 27.

This includes output from the giant Kashagan field where commercial output began last month, making it hard for the Central Asian nation to cut its total production.

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