OPEC downgrades oil production for Kazakhstan.

By bne IntelliNews February 13, 2012
OPEC expects Kazakh oil production to grow by 40,000 bpd to 1.64mn bpd in 2012. This is 10,000 bpd less than the level of output predicted by the organization in January. The revision came on the back of a historical adjustment that was carried over to the 2012 forecast. The growth will be mainly driven by production at Tengiz and Chinarevskoye fields. OPEC projects that the highest level of production will be observed in Q4 at 1.66mn bpd while in Q1 oil production will be seen at 1.65mn bpd, in Q2 1.62mn bpd and in Q3 1.63mn bpd.

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