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Kazakhstan's oil output rises 2% in May in defiance of OPEC+
- Kazakhstan increased its oil production by 2% in May 2025, averaging 1.86 million barrels per day, exceeding its OPEC+ quota of 1.486 million bpd.
- This rise follows Kazakhstan’s challenge in curbing output due to Western majors controlling key fields like Tengiz, which recently reached planned capacity.
- Despite higher output, Kazakhstan’s revenues dropped 43% year-on-year amid low oil prices, and the government promised to compensate by reducing cumulative output by 1.3 million barrels by 2026.
- Chevron’s CEO emphasized that the company does not participate in coordination with OPEC+, while Kazakhstan’s energy ministry affirmed that it is actively working to meet OPEC+ commitments and offset any production beyond agreed limits.
- Kazakhstan’s defiance tests OPEC+ unity and may prompt penalties, yet officials insist production will stabilize without further increases this year, prioritizing national interests.
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Exclusive-Kazakhstan's oil output rises 2% in May in defiance of OPEC+
MOSCOW :Kazakhstan's oil production has risen by 2 per cent in May, an industry source said on Tuesday, an increase that defies pressure from OPEC+ on the Central Asian country to reduce its output.Kazakhstan has repeatedly breached its OPEC+ production quotas, citing the difficulty of telling Western oil maj
·Singapore
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Leaning Left1Leaning Right0Center3Last UpdatedBias Distribution75% Center
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- 75% of the sources are Center
75% Center
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C 75%
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