Kazakhstan's Tengiz Oil Output Cut After Accident, Sources Say

🛢️ TENGIZ — Another supply node fractures while Hormuz is already at 10%. 📌 LOOK CLOSER: Tengiz produces ~700kbpd, routed via CPC pipeline to Black Sea — outside Hormuz but inside the same stressed global supply system. Any output cut lands on a market already down 246M barrels in reserves. European refiners using Caspian crude as Hormuz substitute now face a double squeeze. Timing removes one of the few non-Gulf relief valves traders were pricing in.