Caspian Pipeline Consortium significantly reduces volume of oil pumping
The Caspian Pipeline Consortium has significantly reduced the volume of oil pumping from Kazakhstan to Russia. This was reported by the CPC press service, explaining that this was due to the repair at the Tengiz field and production halting at Kashagan. As a result, the volume of “black gold” supply through the Tengiz-Novorossiysk pipeline was reduced. Meanwhile, Energy Monitor reports that since the beginning of August, oil production in Kazakhstan has been declining by about 13,000-15,000 tonnes daily.
And, OPEC+ may increase oil production by 100,000 barrels per day in September. Compared to the total volume of the alliance, the growth is insignificant. Kazakhstan's obligations under the OPEC+ agreement will amount to 1,710,000 barrels per day next month.