Kazakhstan's crude oil production in May 2024 was estimated at 1.5mn barrels per day (b/d), the Organization of the Petroleum Exporting Countries (OPEC) reports. This figure represents a decrease of 62,000 b/d compared to the previous month's output of 1.7mn b/d in March 2024.
The country's oil output also declined by 101,000 b/d compared to February 2024, when it stood at 1.6mn b/d. In 1Q24, Kazakhstan's daily crude output averaged 1.6mn barrels, which is an increase of 7,000 b/d from the previous quarter when it was 1.61mn b/d. This figure also represents an increase of 84,000 b/d from the third quarter of 2023 when it was 1.53mn b/d.
Total non-OPEC Declaration of Cooperation (DoC) crude oil production averaged 14.3mn b/d in May 2024, showing a decrease of 152,000 b/d compared to the previous month. While crude oil output increased primarily in Mexico, production in Russia and Kazakhstan declined during this period.
Earlier, Daryo reported that the U.S. Energy Information Administration (EIA) revised its oil production forecast for Kazakhstan on June 2024, projecting production of approximately 2.1mn b/d in 2025.
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