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Investing.com -- Amid the ongoing debate within OPEC+ on whether to maintain the current oil output due to weak global demand or increase production in response to internal pressures and a request from U.S. President Donald Trump, it was the record oil production from Kazakhstan that played a significant role in the final decision, according to a Reuters report on Tuesday.
Starting from April, the group will slightly increase its oil output by 138,000 barrels per day, marking the first step in a series of planned monthly increases. This move aims to reverse the nearly 6 million barrels per day of cuts that the group had previously implemented, which equates to nearly 6% of global demand.
Kazakhstan, a member of OPEC+, is currently producing oil at a record high, significantly exceeding its target set in agreement with the producer group. This surge in production comes after American oil giant Chevron (NYSE:CVX) completed a substantial expansion at the Tengiz oilfield in Kazakhstan.
However, this increased output from Kazakhstan has led to frustration among several other members of the group, including the top producer, Saudi Arabia.
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