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Russian order slashes Kazakh oil export capacity amid OPEC+ row

April 2, 2025
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Russian order slashes Kazakh oil export capacity amid OPEC+ row

MOSCOW, April 1 (Reuters) - Russia has ordered the Black Sea terminal handling Kazakhstan's oil exports pumped by U.S. majors Chevron (CVX.N), opens new tab and Exxon Mobil (XOM.N), opens new tab to close two of its three moorings amid a standoff between Kazakhstan and OPEC+ over excess production.

The operator of the Caspian Pipeline Consortium (CPC), which exports around 1% of global oil supply via the Russian terminal, said late on Monday that the two moorings were halted following snap inspections by Russia's transport watchdog.

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