Kazakhstan’s Energy Ministry Denies Reports of Oil Production Growth in August
Photo: Elements.envato.com, ill purposes
The Ministry of Energy of Kazakhstan has refuted claims that the country’s oil production allegedly grew by 2% in August, Orda.kz reports.
According to the ministry’s press service, Kazakhstan produced 1.712 million barrels of oil per day last month — 48,000 barrels per day less than in July.
The ministry categorically denies claims by some media outlets that the country's oil production level increased in August compared to the previous month,
the Ministry of Energy said in a statement.
Earlier this year, Kazakhstan repeatedly exceeded OPEC+ oil production quotas due to the Tengiz expansion.
Saudi Arabia, the cartel’s informal leader, subsequently began exerting price pressure on the market. Kazakhstan has pledged to bring production back in line with OPEC requirements.
Original Author: Nikita Drobny
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