Kazakhstan Exceeds OPEC+ Quota by 332,000 BPD in March, Says S&P

Kazakhstan's oil production hit 1.8 million barrels per day (bpd) in March 2025, as reported by S&P Global Commodity Insights, referencing Platts data.

Kazakhstan's oil production quota under the OPEC+ agreement for March was set at 1.468 million bpd, The Caspian Post reports citing Interfax.

Kazakhstan thus exceeded its OPEC+ quota by 332,000 bpd in March, according to S&P Global Commodity Insights.

"Iraq and Kazakhstan, which have consistently exceeded their quotas, once again failed to meet their commitments. In March, Kazakhstan produced 1.8 million bpd - 30,000 barrels more than in February and significantly above its quota of 1.468 million bpd. The increase in production is linked to the expansion of the major Tengiz project, which began in January," the review said.

Kazakhstan's oil production stood at 1.77 million bpd in February, against a quota of 1.468 million bpd.

The Kazakh Energy Ministry previously said that Kazakhstan once again exceeded its oil production quota under the OPEC+ deal in March, but plans to comply with its commitments in April and compensate for part of the overproduction.

Kazakhstan remains committed to the agreement and its obligations, and "continues negotiations with oil-producing companies," the ministry said. "Currently, the list of subsoil users for whom oil production cuts are possible is being determined," the Energy Ministry said.

As reported, last year Kazakhstan extended its OPEC+ oil production restrictions by 2.2 million bpd for the entire first quarter of 2025. Kazakhstan plans to adhere to its allocated OPEC+ production quota for 2025, the Energy Ministry said.