Kazakhstan oil output drops 3%, remains above OPEC+ quota

Kazakhstan's oil production declined by 3% in the first two weeks of April, averaging around 1.82 million barrels per day, primarily due to reduced output at the Chevron-operated Tengiz field. Despite this decrease, the country's production remains above its OPEC+ quota of 1.473 million barrels per day, continuing a trend of exceeding established limits that has drawn complaints from other OPEC+ members. In March, Kazakhstan's production had increased significantly, prompting OPEC+ to express concerns over its overproduction. The energy ministry has indicated that Kazakhstan plans to partially compensate for earlier overproduction in April. This situation highlights ongoing tensions within the OPEC+ alliance as Kazakhstan balances its production commitments and market dynamics. Notably, Kazakhstan's oil industry includes substantial participation from major Western oil companies, including Chevron and ExxonMobil.