Air Freight News

Kazakhstan was the main laggard in OPEC+ oil pact in February, OPEC data shows

Kazakhstan contributed more than a half of overall OPEC+ oil production rise in February, lagging behind its pledges to reduce production, OPEC data showed on Wednesday.

Kazakhstan has persistently exceeded its output quota of 1.468 million bpd under the production-curbing deal struck by the Organization of the Petroleum Exporting Countries and allies including Russia - together known as OPEC+.

According to the OPEC data, Kazakhstan produced 1.767 million barrels per day (bpd) of oil in February, up from 1.570 million bpd in January.

Employees operate a drilling rig at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan August 22, 2024. REUTERS/Pavel Mikheyev

It has promised to cut the output and compensate for overproduction.

However, it is boosting oil production at the Chevron-led Tengiz oilfield, the country's largest.

Russia's crude oil output edged down by 0.04% to 8.973 million barrels per day (bpd) in February from 8.977 million bpd January, according to OPEC.

It was slightly below Russia's output quota of 8.98 million bpd under a pact among OPEC+ producers.

Russia's quota is expected to rise to 9.004 mln bpd from April with OPEC+' overall gradual increase of output.

Deputy Prime Minister Alexander Novak said last week that the OPEC+ group agreed to start increasing oil production from April, but could reverse the decision afterward if there are market imbalances.


Reuters
Reuters

Similar Stories

https://www.ajot.com/images/uploads/article/TIE06052026.jpg
Today in energy: China’s nuclear power capacity nearly doubled since 2016
View Article
https://www.ajot.com/images/uploads/article/Global-biofuel-demand.jpg
Global biofuel demand set to grow by nearly 70% as food prices rise
View Article
MOL to invest in the first offshore LNG liquefaction facility in the US

Upstream LNG value chain expansion

View Article
https://www.ajot.com/images/uploads/article/KR_s_latest_Decarbonization_Magazine.png
BHP and GCMD trial multi-feedstock B100 blend in an existing supply chain
View Article
https://www.ajot.com/images/uploads/article/EIA_26_1.png
U.S. natural gas storage capacity increased slightly in 2025
View Article
https://www.ajot.com/images/uploads/article/Echandia_Core.png
Echandia launches new battery system that lowers upfront cost and footprint by 30 percent
View Article