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Will Kazakhstan comply with OPEC+ compensation plan by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
OPEC official reports and statements
Story
OPEC+ Releases Compensation Plan for Overproduction by Iraq, Russia, and Kazakhstan, Iraq Overproduced by 1.184 Million BPD
Jul 24, 2024, 01:15 PM
OPEC+ has released a new compensation plan aimed at addressing overproduction by member countries, including Iraq, Russia, and Kazakhstan. According to an OPEC statement, Iraq overproduced by approximately 1.184 million barrels per day (bpd) in the first six months of 2024. The compensation plan has been submitted to the OPEC Secretariat, but there are concerns about whether the cuts will actually be implemented. The plan includes a detailed schedule for the compensation cuts, which has been long awaited by the market.
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Similar markets
Yes • 50%
No • 50%
Above 90% • 25%
Between 80% and 90% • 25%
Between 70% and 80% • 25%
Below 70% • 25%
Saudi Arabia • 25%
Russia • 25%
United Arab Emirates • 25%
Other • 25%
Fully compliant • 25%
Mostly compliant (within 5% deviation) • 25%
Partially compliant (within 10% deviation) • 25%
Non-compliant (more than 10% deviation) • 25%
