Energy

Kazakhstan's April oil output exceeds OPEC+ quota despite 3% fall

MOSCOW: Kazakhstan oil production was again above its OPEC+ quota this month, although it fell 3% from the March average, according to an industry source familiar with the statistics, and Reuters calculations.
Kazakhstan, a top-10 oil producer, has persistently exceeded quotas set by OPEC+, an alliance between the Organization of the Petroleum Exporting Countries and other producers led by Russia, leading to complaints from other members of the group.
Between April 1 and 28, its oil production, excluding gas condensate, was 1.814 million barrels per day, down 3% from the March average. Its OPEC+ quota for April is 1.473 million bpd.
Kazakhstan's energy ministry did not reply to a request for comment.
Kazakhstan has, however, said it would compensate for overproduction by reducing its cumulative output by 1.3 million bpd by April 2026.
Kazakhstan increased oil exports by 7% year on year to 19.515 million metric tons (1.63 million barrels per day) in January-March following a supply boost via the Caspian pipeline, Reuters calculations based on official data and sources showed.
The country's oil production has risen as a result of an expansion at the Chevron-led Tengiz oil field, Kazakhstan's largest.
According to the source, oil output at Tengiz declined over April 1-28 to 882,000 bpd from 950,000 bpd in March on average.
Western oil majors, including Shell, ExxonMobil , TotalEnergies and Eni, as well as Chevron, are active in Kazakhstan.