Kazakhstan on Track to Exceed OPEC+ Oil Quota in May - Reuters
Photo: Elements.envato.com, ill. purposes
Oil production in Kazakhstan increased by another two percent in May and is expected to surpass the production limits set by the OPEC+ alliance by the end of the month, Orda.kz reports.
According to Reuters, citing an industry source, Kazakhstan continues to ramp up oil output despite efforts by OPEC+ to maintain production discipline. In April, production fell by three percent due to disruptions at the Caspian Pipeline Consortium, yet overall output still remained above the assigned cap.
According to an industry source who spoke on anonymity, crude oil production in Kazakhstan, excluding gas condensate, averaged 1.86 million barrels per day from May 1 to May 19. Of this, 932,000 barrels per day were produced at Tengiz.
For comparison, output in March stood at 1.88 million barrels per day, while April saw a dip to 1.82 million. Kazakhstan’s OPEC+ production quota for May is set significantly lower, at 1.486 million barrels per day.
Original Author: Nikita Drobny
Latest news
- Zhezkazgan Airport Resumes Operations After An-12 Emergency Landing
- Middle East Escalation Disrupts Kazakhstan–Dubai Flights
- Three Rare Neolithic Burials Discovered in Kostanay Region
- Minister Promises Better Internet Access for Rural Areas
- Will Trump Visit Kazakhstan?
- Six-Lane Road to Almaty’s Ring Road Planned, Around 200 Land Plots Bought Out
- Housing Sales in Kazakhstan Rise 28% in One Month
- East Kazakhstan Residents Question Gas Station Restrictions on Fuel Canisters
- New Committee to Oversee Crypto Market and Payment System
- MFA Confirms Death of Young Kazakhstani Woman in Antalya
- Source of Shymkent Air Pollution Complaints Still Unclear
- Why Cheap Kazakh Gasoline Is Becoming a Regional Issue
- Southern Kazakhstan Records Magnitude 4.5 Earthquake
- Almaty Residents Oppose Covering City’s Open Irrigation Canals
- Where Are Incomes Highest in Kazakhstan After Almaty?
- Landfill Fire Breaks Out in Astana
- Qatari-Kazakh Gas Pipeline Project Gets Another $500 Million
- Russian City May Name Square After Tokayev’s Father
- Kazakhstanis Will Not Face New Loan Restrictions
- Dead Seals Found Near Aktau May Have Come From Iran, Officials Say
