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Market Chatter: Chevron's Tengiz Oilfield Output Drops After Accident

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Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources.

Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report.

Production climbed to around 82,000 metric tons on Wednesday and is expected to be restored gradually within about a week, Reuters said.

Chevron told Reuters that a portion of the oilfield experienced "minor operational disruption" on Thursday and that it was restoring production.

Chevron did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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