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OIL: Kazakhstan Output Rose To Record Level In February

OIL
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Kazakhstan raised crude and condensate output by 13% m/m in February to a record high of 2.12m b/d, Reuters reports. 

  • Excluding gas condensate, crude output jumped 15.5% m/m to 1.83m b/d, according to Reuters calculations.
  • Record output comes following the ramp-up of the Tengiz oilfield. Production at the field rose to 904k b/d last month, from 640k b/d in January, Reuters reports.
  • Kazakhstan has persistently exceeded its OPEC+ output quota of 1.468m b/d. The nation is on a compensation plan to make up for overproduction.
  • Output has also increased despite a drone attack at a pumping station on the CPC. Kazakhstan said last month that oil supplies via the CPC were on schedule.  
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Kazakhstan raised crude and condensate output by 13% m/m in February to a record high of 2.12m b/d, Reuters reports. 

  • Excluding gas condensate, crude output jumped 15.5% m/m to 1.83m b/d, according to Reuters calculations.
  • Record output comes following the ramp-up of the Tengiz oilfield. Production at the field rose to 904k b/d last month, from 640k b/d in January, Reuters reports.
  • Kazakhstan has persistently exceeded its OPEC+ output quota of 1.468m b/d. The nation is on a compensation plan to make up for overproduction.
  • Output has also increased despite a drone attack at a pumping station on the CPC. Kazakhstan said last month that oil supplies via the CPC were on schedule.