The two sides discussed cooperation within the OPEC+ framework and the energy sector, including electricity, hydropower and renewables. Three coal-fired thermal power plants will be built in Kazakhstan in the cities of Kokshetau, Semey and Ust-Kamenogorsk, and two power units at Ekibastuz TPP-2 will be renovated with the involvement of Russian specialists.

On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.

Brent eased 18 cents, or 0.3%, to $64.49 per barrel , WTI fell 16 cents, or 0.3%, to $61.17.

Its target scenario sees output of 540 million tons at the end of this decade and also by midcentury, a document published Monday showed. That’s equivalent to about 10.84 million barrels a day and is only marginally above volumes in 2023, the baseline for the paper. Shipments abroad are also expected to hold steady.

The global oil demand growth forecast for 2025 is revised down slightly to 1.3 mb/d, y-o-y. This minor adjustment is mainly due to received data for 1Q25 and the expected impact on oil demand given recently announced US tariffs.

Brent lost $2.38, or 3.79%, to $60.44 a barrel, WTI fell $2.46, or 4.13%, to $57.12.

The Worldwide Rig Count for March was 1,685, down 56 from the 1,741 counted in February 2025, and down 108, from the 1,793 counted in March 2024.

Brent were up 81 cents, or 1.26%, at $65.02 per barrel, WTI rose 92 cents, or 1.52%, to $61.61.

The Committee valued the additional voluntary production adjustments made by the 8 OPEC plus countries which were announced in April and November 2023 in supporting market stability.

These primarily impact China and India, who are the largest buyers of Russian oil. Both have begun turning away Russian tankers over the past few days in anticipation of the move.