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Kazakhstan leads OPEC's February production, becoming the primary drag on production cut plans.
On March 12, Jinshi data reported that Kazakhstan contributed more than half of the total oil production rise of OPEC+ in February, falling behind its production cut commitment. According to the production cut protocol reached by OPEC+, Kazakhstan has consistently exceeded its production quota of 1.468 million barrels per day. The data shows that Kazakhstan’s oil daily production in February was 1.767 million barrels, higher than the 1.57 million barrels in January. Previously, the country had committed to reduce production and offset overproduction.