Kazakhstan hikes oil output by 11.6% in first half, no plans to quit OPEC+
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, angering some bloc's members, according to the industry sources.
Energy minister Erlan Akkenzhenov said on Tuesday that Kazakhstan exported 39.6 million tons of oil (1.64 million barrels per day), while this year's export is expected at 70.5 million tons.
Reuters uses the ratio of barrels of Kazakhstan's crude oil to metric tons of 7.5 barrels per metric ton.
Separately, the country's Prime Minister Olzhas Bektenov said Kazakhstan did not plan to leave OPEC+, while conceding it has struggled to abide by the OPEC+ production quotas.
He said it was due to the expansion of the Chevron-led (CVX.N), opens new tab Tengiz oilfield, the country's largest.
Kazakhstan's OPEC+ quota is set to rise to 1.532 million barrels per day in August from 1.514 million barrels per day in July. This does not account for output of gas condensate, a type of light oil.
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