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OPEC+ struggles to rein in Kazakhstan despite Saudi's ire

Mint Kolkata

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April 11, 2025

OPEC+ stunned oil traders last week by announcing it would revive oil output at 3 times the scheduled pace in May

- Bloomberg

Saudi Arabia's oil supply shock has set up a standoff with OPEC+ (Organization of the Petroleum Exporting Countries) members who keep busting their quotas, but the biggest of the offenders has yet to flinch.

Kazakhstan—whose persistent flouting of production limits triggered Riyadh's ire—continues to pump as usual at the biggest oil fields run by its international oil partners, according to people familiar with the matter. The Tengizchevroil joint venture that includes Chevron Corp. and Exxon Mobil Corp. will stick with plans to boost production this year and has no intention of cutting back, the people said. Another operator said they hadn't received any formal request to reduce.

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Mint Kolkata

Mint Kolkata

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UPI AutoPay’s endless woes forcing an industry rethink

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Silver to stay hot as supply thins amid buyer frenzy

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CaratLane is reshaping the jewellery world

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Mint Kolkata

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Mint Kolkata

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Science at the political table

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Mint Kolkata

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Silver to stay hot as supply thins amid buying frenzy

New mines can’t help, either, Exploring and developing new mines typically takes several years.

time to read

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