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OIL: Kazakhstan Exceeded OPEC+ Quota In January

OIL
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Kazakhstan exceeded its OPEC+ quota by 32k b/d in January, according to Platts data. 
• Platts data shows that Kazakhstan produced 1.5m b/d in January 2025, above its OPEC+ quota of 1.468m b/d.  
• This is a 100k b/d rise from Kazakh output of 1.4m b/d in December 2024, Platts data shows. 
• Kazakhstan’s overall production has been boosted by increased output at the Tengiz field. 
• Tengiz output hit 870,000 bpd in January, 45% higher than the field’s average output in 2024, according to Kazakhstan’s Energy Ministry.
• Kazakhstan overproduction has been a persistent problem for OPEC+ as it has struggled to find adherence to caps within the group.
• The nation is on a compensation plan, but Kazakh production has been hitting daily record highs in recent weeks, drawing questions around its commitment.
• Kazakhstan reaffirmed its commitment to OPEC+ oil production obligations at the JMMC meeting on Feb. 3, saying it will also take the necessary measures in 2025 and 2026 to compensate for overproduction in 2024.

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Kazakhstan exceeded its OPEC+ quota by 32k b/d in January, according to Platts data. 
• Platts data shows that Kazakhstan produced 1.5m b/d in January 2025, above its OPEC+ quota of 1.468m b/d.  
• This is a 100k b/d rise from Kazakh output of 1.4m b/d in December 2024, Platts data shows. 
• Kazakhstan’s overall production has been boosted by increased output at the Tengiz field. 
• Tengiz output hit 870,000 bpd in January, 45% higher than the field’s average output in 2024, according to Kazakhstan’s Energy Ministry.
• Kazakhstan overproduction has been a persistent problem for OPEC+ as it has struggled to find adherence to caps within the group.
• The nation is on a compensation plan, but Kazakh production has been hitting daily record highs in recent weeks, drawing questions around its commitment.
• Kazakhstan reaffirmed its commitment to OPEC+ oil production obligations at the JMMC meeting on Feb. 3, saying it will also take the necessary measures in 2025 and 2026 to compensate for overproduction in 2024.