Kazakhstan's Oil Output Falls Slightly in April
Photo: Elements.envato.com, ill. purposes
Oil production in Kazakhstan declined by 3% in the first half of April compared to March, Orda.kz reports, citing Reuters.
Reuters claims the reduction was insufficient to align the country with its OPEC+ quota. The Ministry of Energy had previously pledged to cut output following months of overproduction.
According to Reuters, some OPEC+ members — particularly Saudi Arabia — have expressed dissatisfaction with rising production levels. Sources within the group indicated that frustration is growing over the lack of compliance.
The recent production dip is attributed to decreased output at the Tengiz field. While the Ministry of Energy confirmed the scale of the decline, it did not specify which companies were involved.
Despite these cuts, Kazakhstan is still producing above its agreed limits and appears likely to breach its quota again in April.
Saudi Arabia had previously lowered oil prices significantly.
Original Author: Nikita Drobny
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