Black Sea CPC Blend crude oil exports have been set at around 1.65 million barrels per day in July, almost unchanged from the June plan, two trading sources with knowledge of the month’s loading program told Reuters.

Kazakhstan’s oil output declined in April and May after growing sharply earlier this year on the back of rising production at the giant Tengiz oil field, though it remains above OPEC+ quota.

The Caspian Pipeline Consortium (CPC), which carries more than 80% of all Kazakh oil exports, does not comment on monthly exports through its system.

CPC has recently finished repairs on its large pumping station in Russia that was damaged by drones in February, which was meant to increase its pumping capacity.

The pipeline carries more than 1% of the world’s daily supply of oil.

It stretches over 1,500 km (939 miles) from the Tengiz oilfield to the Russian Black Sea port of Novorossiysk.
Source: Reuters