Kazakhstan’s Oil Output Still Above OPEC+ Quota Despite Drop
Photo: Elements.envato.com, ill purposes
Production volumes in Kazakhstan continue to exceed the OPEC+ quota, Orda.kz reports, citing Reuters.
Excluding gas condensate, the country’s oil production in October fell by 10% to 1.69 million barrels per day. A Reuters source said the decline was mainly due to maintenance at the Tengiz field.
Maintenance work was carried out from the beginning of October until the 24th.
As a result, production at the field fell to 725,400 barrels per day, down from 963,800 barrels in September, the agency writes. Even with the reduced output, Kazakhstan still exceeded its OPEC+ quota for October, which was set at 1.556 million barrels per day.
Original Author: Igor Ulitin
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