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Kazakhstan Produced 1.93m b/d of Oil in Jan: Ministry

OIL

Kazakhstan’s crude and condensate output was 7.8m mt in January, according to the official figures released by the Ministry of Energy.

  • That equates to around 1.93m b/d, when accounting for the conversion factor of 7.605 b/mt which better reflects the API of Kazakh grades, according to Bloomberg.
  • The Kazakh Ministry of Energy did not provide a figure for crude output alone, but had already conceded to overshooting OPEC quotas, promising it would compensate for January’s overproduction over the next four months.
  • According to a survey by Platts showed that Kazakhstan produced 1.56m b/d in January, while Reuters’ calculations put Kazakh crude oil production at 1.578m b/d. Kazakhstan’s oil output quota from OPEC+ is 1.468m b/d.
Energy BulletsCommodities
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