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Kazakhstan daily oil output hit record high in March, industry sources say
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Kazakhstan daily oil output hit record high in March, industry sources say
Mar 21, 2025 4:00 AM

MOSCOW, March 21 (Reuters) - Kazakhstan's oil output has

reached a record high this month on the back of oilfield

expansion, further exceeding OPEC+ production quotas, two

industry sources said and Reuters calculations showed on Friday.

The country has repeatedly exceeded its OPEC+ quotas in

recent months and has promised to reduce output under pressure

from OPEC+ leaders Saudi Arabia and Russia.

However, it is finding it difficult to convince U.S. oil

majors such as Chevron ( CVX ) and Exxon Mobil ( XOM ) to reduce

output from Kazakhstan's biggest fields after the companies

spent tens of billions of dollars on expanding their projects.

After tough discussions on OPEC+ compliance the state's

Energy Minister has stepped down.

Oil and gas condensate production in Kazakhstan reached 4.6

million metric tons over March 1-16, or 2.16 million barrels per

day (bpd), the sources said. That compared with 2.12 million bpd

on average in February.

Kazakhstan's OPEC+ quota doesn't limit condensate production

but crude oil output is meant to be set at 1.468 million bpd.

Kazakhstan produced 1.86 million bpd of crude on average

over March 1-16, exceeding its OPEC+ quota by almost 400,000

bpd, Reuters calculations showed, based on the data provided by

the sources.

Output was also above OPEC+ quotas in January and February

at 1.767 million bpd and 1.57 million bpd respectively, OPEC

data showed last week.

The state pledged to compensate with additional cuts. OPEC+

on Thursday issued a new schedule for seven member nations

including Russia, Kazakstan and Iraq to make further oil output

cuts to compensate for pumping above agreed levels.

OPEC+ sources told Reuters that record Kazakh output had

angered some key members and helped to sway their decision this

month to proceed with a plan to start raising output from April.

Kazakhstan's March oil exports remain high, with flows via

its Caspian Pipeline Consortium (CPC) export route continuing

unabated. Exports via the CPC pipeline have been set at 1.7

million bpd for April, in line with the preliminary March plan.

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