OPEC+ Struggles to Rein In Biggest Cheat Despite Saudi Arabia’s Scolding

Saudi Arabia’s oil supply shock has set up a standoff with OPEC+ members who keep busting their quotas, but the biggest of the offenders has yet to flinch.

Kazakhstan — whose persistent flouting of production limits triggered Riyadh’s ire — continues to pump as usual at the biggest oil fields run by its international oil partners, according to people familiar with the matter. The Tengizchevroil joint venture that includes Chevron Corp. and Exxon Mobil Corp. will stick with plans to boost production this year and has no intention of cutting back, the people said. Another operator said they hadn’t received any formal request to reduce.