Kazakhstan is considering the option of fulfilling its OPEC+ production cut obligations.

According to reports, Kazakhstan is considering the option of complying with the country's OPEC+ production cuts obligation, after Saudi Arabia reiterated the need for quota violators to adhere to the rules. "Kazakhstan has always been committed to the OPEC+ agreement," the country's Energy Ministry stated. The largest oil-producing country in Central Asia is "considering all possible options to fulfill its commitments." Since OPEC+ decided to increase production more than expected on May 3rd, oil prices have fallen, leading investment banks such as Goldman Sachs to lower their price expectations. Saudi Arabia, a leader in OPEC, warned at the meeting that member countries producing in excess should take action, or else face further production increases.