Kazakhstan plans to keep oil output at the current level until year-end, Energy Minister Erlan Akkenzhenov was quoted as saying by Interfax news agency.

The Central Asian republic has persistently exceeded quotas set by OPEC+, which groups the Organization of the Petroleum Exporting Countries and other producers led by Russia.

Kazakh overproduction has angered some of the group’s members, sources have told Reuters, and has been one of the reasons for faster-than-expected output increases from OPEC+ as it fights for market share and seeks to punish those breaching curbs with lower international prices.

An industry source, speaking on condition of anonymity because of the sensitivity of the issue, said last week that Kazakhstan’s daily crude oil output – excluding gas condensate, a type of light oil – jumped in June by 7.5% from May to 1.88 million barrels.
Source: Reuters