Kazakhstan Surpasses OPEC+ Oil Quota in September - Caspian News
Photo: Elements.envato.com
As Caspian News reports, in September, Kazakhstan produced 1 billion 638 million barrels of oil daily, 170.2 thousand barrels more than the established OPEC+ quota allows. Oil production at Tengiz increased sharply by 30%, thus causing overproduction.
The country’s total crude oil production for the month amounted to 6.55 million tonnes, a 10 percent rise compared to previous months. When converted to barrels, using Kazakhstan’s traditional factor of 7.3 barrels per tonne, this production translates to approximately 1.6 million barrels per day. Even under this calculation, Kazakhstan still surpassed its OPEC+ quota by 126,500 bpd, Caspian News writes.
The Ministry of Energy of the Republic of Kazakhstan confirmed that Kazakhstan fulfilled its September plan for oil and gas condensate production. Kazakhstan intends to compensate for the overproduction under the OPEC+ quota per the approved agreements. Kashagan will have repairs in October, decreasing oil production volumes.
Kazakhstan currently ranks tenth in the world in terms of crude oil exports.
Recently, it was claimed that Saudi Arabia would "drop" world oil prices to $50 per barrel. OPEC has officially stated that it does not intend to act in this manner over oil overproduction.
Original Author: Nikita Drobny
Latest news
- Kazakhstan Plans to Rent 11 Helicopters for 22 Billion Tenge Ahead of the Fire Season
- Flights Delayed and Canceled at Astana Airport Due to Bad Weather
- More Than 8,500 Kazakhstanis Evacuated From the Middle East
- Kazakh Experts Explain Why AI Is Becoming the Main Weapon of Modern Warfare
- Kazakhstan Dismisses Reports of “Acid Clouds From Iran” Heading Toward Central Asia
- Kazakhstan Continues Middle East Evacuation, More Than 7,300 Brought Home
- Kazakhstan Recommended for U.S. Watch List as Vorontsov Case Draws New Attention
- Putin Bans Extradition of Foreign Nationals Who Served in the Russian Army
- Kazakh Researcher Reportedly Jailed in Xinjiang for “Misinterpreting” Abay
- Almaty Residents Warned of Elevated Air Pollution
- Over 6,000 Kazakhstanis Return Home From the Middle East
- The National Bank Invests $350 Million in Crypto-Related Assets
- Tokayev Congratulates Kazakhstani Women on International Women’s Day
- Building a House in Kazakhstan Has Become Cheaper
- Kazakhstan May Allow Crypto Payments for Goods and Services
- Kazakhstan Tightens Penalties for Violence Against Medical Workers
- Kazakhstan Urges Citizens Not to Travel to Middle East Amid Escalating Conflict
- Kazakhstan Joins the Opening of the Milano Cortina 2026 Paralympic Winter Games
- Statistics Show Where the Most Women Live and Work in Kazakhstan
- Kazakhstan Carries Out 12 Evacuation Flights From the Middle East
