Crude oil production by Opec-plus was 40.63 million barrels per day in January, flat compared with December, according to Energy Intelligence’s preliminary assessment. Output by the 18 members with quotas was 33.73 million b/d, a gain of 110,000 barrels per day on the month. Kazakhstan led the increase as the ramp-up of a major field expansion boosted its production by 130,000 b/d to 1.6 million b/d, placing the Central Asian country almost 200,000 b/d over its monthly target. Russia, which also overproduced last year, was 8,000 b/d short of its target at 8.97 million b/d. Overall, Opec-plus 18 crude oil production was 66,000 b/d over target.
