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OPEC+ Oil Production Surges as Kazakhstan Further Breaches Quota

OPEC+ crude production surged last month as Kazakhstan, which has long flouted the cartel’s output quotas, further breached its agreed limit.



OPEC+ crude production surged in February, driven by Kazakhstan exceeding its output quota by at least 300,000 barrels a day. The alliance's total output rose by 363,000 barrels a day. The decision to increase output, despite concerns over demand and supply, surprised traders and led to a decline in oil futures. Some within OPEC+ cited frustration with quota violations, like Kazakhstan's, as a factor in the decision.

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