MARCH 13 2017 (The Conway Bulletin) — Kazakhstan produced more oil in February than it was supposed to under an OPEC-led deal in December aimed at cutting global production, official data showed. It produced 1.718m barrels of oil/day in February, a 2% rise from its output in January. This is 38,000 barrels of oil/day than it had agreed to. Oil prices have fallen on news that oil stockpiles were higher than thought.
ENDS
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(News report from Issue No. 321, published on March 20 2017)