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Kazakhstan’s Oil Production Is Surging Despite Pledges to Cut

  • Oil production hits new daily highs after maintenance ends
  • Production boost to take output above monthly OPEC+ target
Oil Pumping Operations At Kazakh Oilfield Operated By EmbaMunaiGas

Photographer: Andrey Rudakov/Bloomberg

Kazakhstan’s oil production is setting new daily records after maintenance works were completed at the country’s three big oil fields. Barring unforeseen issues, the Central Asian nation’s output looks set to stay well above its OPEC+ quota under an output deal that runs to the end of March.

Daily production hit an all-time high of 269,000 tons on Thursday. When converted to barrels, the volume is far in excess of what the nation pledged it would pump to help OPEC and allied oil producers avert a global glut.