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OIL: Kashagan Return and Rising Tengiz Output to Test Kazakhstan OPEC Compliance

OIL
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Kazakhstan's is likely to be compliant with its OPEC+ oil target in October aided by the maintenance at the Kashagan field which started on Oct. 7 but could become problematic again on its return, Reuters sources said.

  • A record high output from Tengiz, Kazakhstan's biggest oil field, could potentially complicate future compliance with its OPEC+ quota.
  • Tengiz daily production rose to 699kbpd in early October from 687kbpd in September, sources said. September output was 30% higher than August following field maintenance.
  • Tengiz output is planned to rise to 850kbpd in the first half of 2025.
  • Kazakhstan exceeded the OPEC+ quota of 1.468mbpd in September by around 170kbpd, according to Reuters calculations.
  • The OPEC JMMC last week emphasized the critical importance of achieving full conformity and compensation after previous overproduction by Iraq, Kazakhstan, and Russia.
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Kazakhstan's is likely to be compliant with its OPEC+ oil target in October aided by the maintenance at the Kashagan field which started on Oct. 7 but could become problematic again on its return, Reuters sources said.

  • A record high output from Tengiz, Kazakhstan's biggest oil field, could potentially complicate future compliance with its OPEC+ quota.
  • Tengiz daily production rose to 699kbpd in early October from 687kbpd in September, sources said. September output was 30% higher than August following field maintenance.
  • Tengiz output is planned to rise to 850kbpd in the first half of 2025.
  • Kazakhstan exceeded the OPEC+ quota of 1.468mbpd in September by around 170kbpd, according to Reuters calculations.
  • The OPEC JMMC last week emphasized the critical importance of achieving full conformity and compensation after previous overproduction by Iraq, Kazakhstan, and Russia.