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Stockreport

Kazakhstan leads OPEC+ oil output surge, OPEC maintains demand view [Yahoo! Finance]

Chevron Corporation (CVX)  More Company Research Source: Yahoo! Finance
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
According to the latest OPEC report, the collective output of OPEC+, which includes OPEC members, Russia and other allies, rose by 363,000 barrels per day (bpd) to 41.01 million barrels per day (mbbl/d). Kazakhstan has been producing oil at record levels, exceeding its OPEC+ quota. In February, the country's production jumped by 198,000bpd to 1.77mbbl/d, which is at least 300,000bpd above its designated OPEC+ ceiling. Chevron has also been expanding production at Tengiz, Kazakhstan's largest oil field, contributing to the country's output surge. This surge in production is more than double the scheduled 138,000bpd increase planned for April, as OPEC+ gradually phases out its recent output restrictions. OPEC's data, gathered from secondary sources, indicates that other OPEC+ nations including the United Arab Emirates, Nigeria and Gabon have also been producing above their quotas, albeit by smaller margins. Industry insiders noted that Kazakhstan's record production levels in [Read more]
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