Kazakhstan Oil Output Rises in March

Oil and gas condensate output in Kazakhstan rose 2 percent month-on-month in March to 7.4 million tonnes, preliminary energy ministry data showed on Friday, above a level agreed in a global production deal with OPEC.

According to Reuters calculations, oil output in Kazakhstan,

the second biggest oil producer among former Soviet countries, was at 1.75 million barrels per day (bpd) last month up from 1.72 million bpd in February.

Reuters bases its calculations on a rate of 7.33 barrels per tonne of crude.

Kazakhstan, which along with some other non-OPEC countries has joined an global agreement to cut oil output, has promised to reduce production by 20,000 bpd in the first half of 2017 from 1.7 million bpd produced in November on average.

Deputy Energy Minister Aset Magauov said on Monday that Kazakhstan's crude oil output exceeded the level it agreed with other major oil producers by 10,000 barrels per day in March.

The output spike was temporary and Kazakhstan was likely to meet its overall commitments under a six-month agreement by OPEC and non-OPEC producers, Magauov told reporters without providing an absolute figure for the output.

According to Reuters calculations, Kazakhstan's production quota was exceeded by 70,000 bpd.

Kazakhstan's energy ministry, in an emailed comments to Reuters on Friday, said its data was preliminary.

More precise data is currently being calculated, it said.

(Reporting by Alla Afanasyeva; writing by Katya Golubkova and Vladimir Soldatkin)