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Kazakhstan's oil production dropped in July, according to a source, but remained above OPEC+ quota

A source familiar with these data said that the daily crude oil production of Kazakhstan, excluding gas-condensate (a type light oil), dropped from 1.88 to 1.84 millions barrels per day during July, down from 1.88 in June.

According to calculations, the daily crude oil production in Kazakhstan fell by 2% compared to June.

This was higher than Kazakhstan's quota for July of 1,514 million bpd, which was agreed to with the oil producing group OPEC+.

Kazakhstan has been exceeding its quotas for several months, set by OPEC+. This grouping includes the Organization of Petroleum Exporting Countries (OPEC) and other producers including Russia.

The source spoke on condition of anonymity due to the sensitive nature of the subject.

The Energy Ministry of Kazakhstan did not respond to a request for comment. Mark Potter, Editor (Reporting)

(source: Reuters)