Reported about 8 hours ago
Kazakhstan's record crude oil production played a pivotal role in OPEC+'s decision to raise output for the first time since 2022, amidst ongoing internal pressures and calls for adjustment due to weak global demand. The group's output will increase by 138,000 barrels per day starting in April, as member countries like Saudi Arabia express frustration over Kazakhstan's oversupply, which exceeds its OPEC+ quota. This discord highlights challenges in compliance among OPEC+ members and the impact of political pressures, including from the U.S.
Source: YAHOO