Kazakhstan exceeds OPEC+ target by 332,000 bpd in March - S&PKazakhstan's crude oil production reached 1.8 million barrels per day (bpd) in March 2025, exceeding its OPEC+ quota of 1.468 million bpd by 332,000 bpd, according to S&P Global Commodity Insights citing Platts data."Persistent overproducers Iraq and Kazakhstan again missed their targets. Kazakhstan produced 1.8 million b/d in March -- up 30,000 b/d and well above its quota of 1.468 million b/d. Output is growing as a result of expansion at its major Tengiz project launched in January," the S&P review stated.This follows February's production of 1.77 million bpd against the same quota.Kazakhstan's Energy Ministry confirmed the March overproduction to Interfax-Kazakhstan but stated plans to comply with April quotas through negotiations with oil producers."Kazakhstan missed its March target under the OPEC+ Agreement... For April, we plan to meet obligations and compensate for part of the overproduced volumes." The ministry emphasized Kazakhstan's continued commitment to the agreement while "identifying specific subsoil users for potential production cuts."Kazakhstan extended its OPEC+ production cap at 2.2 million bpd through Q1 2025. The Energy Ministry previously stated intentions to maintain 2025 quota compliance. (ICE ALMATY)

Fonte notizia: INTERFAX