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The increase is mainly because of lower compensation from Kazakhstan and Iraq for previously uncut production, which dropped by 80,000 and 45,000 barrels per day, respectively.
Therefore, Kazakhstan's oil production in March may surpass 1 million barrels per day, reaching approximately 1,020,000 barrels per day.
In December and January, Kazakhstan lowered its production levels because of decreased export capacity via the Caspian Pipeline Consortium (CPC), as well as a power facility accident at the Tengiz field, which led to a temporary suspension of production. These events might affect the country's future plans.
Production quotas for all participants will remain at the levels set in December for the initial three months of 2026. Saudi Arabia's plan is to produce 10.103 million barrels per day, Russia's target is 9.574 million barrels per day, Kuwait's output will be 2.58 million barrels per day, and Algeria's production is set at 971,000 barrels per day.
source: reuters.com
Therefore, Kazakhstan's oil production in March may surpass 1 million barrels per day, reaching approximately 1,020,000 barrels per day.
In December and January, Kazakhstan lowered its production levels because of decreased export capacity via the Caspian Pipeline Consortium (CPC), as well as a power facility accident at the Tengiz field, which led to a temporary suspension of production. These events might affect the country's future plans.
Production quotas for all participants will remain at the levels set in December for the initial three months of 2026. Saudi Arabia's plan is to produce 10.103 million barrels per day, Russia's target is 9.574 million barrels per day, Kuwait's output will be 2.58 million barrels per day, and Algeria's production is set at 971,000 barrels per day.
source: reuters.com