Kazakhstan's Oil Output Surpasses OPEC+ Quota Amidst Internal Alliance Tensions
Kazakhstan's oil production from April 1 to 28 reached 1.814 million barrels per day , exceeding its OPEC+ quota of 1.473 million bpd by over 340,000 bpd, despite a 3% decline from March's average.
This overproduction continues a pattern observed in previous months, with March's output at 1.8 million bpd, surpassing the quota by 332,000 bpd. The Chevron-led Tengiz oilfield, Kazakhstan's largest, has been a significant contributor to this elevated production.
Newly appointed Energy Minister Erlan Akkenzhenov emphasized that Kazakhstan's oil production decisions are driven by national interests rather than strict adherence to OPEC+ agreements. He highlighted the limited state control over major oil projects operated by foreign companies, making it challenging to adjust output levels. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
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