Kazakhstan's oil production has reached a record level, surpassing OPEC+ quotas.

Kazakhstan's oil production has reached a new record high this month, exceeding OPEC+ production quotas. According to a report published by Reuters on Friday, this increase in output is attributed to the expansion of oil fields in the country. Major American oil companies Chevron and Exxon Mobil have made significant investments to expand projects in Kazakhstan's largest oil fields, making it challenging for the country to persuade these firms to reduce production levels.

Following intense discussions regarding OPEC+ compliance, Kazakhstan's Energy Minister has resigned. From March 1-16, oil and gas condensate production in Kazakhstan reached 4.6 million metric tons, equivalent to 2.16 million barrels per day (bpd). Sources indicate that this figure is higher than the February average of 2.12 million bpd. While Kazakhstan's OPEC+ quota does not restrict condensate production, crude oil output must remain at 1.468 million barrels per day.