BAKU, Azerbaijan, September 10. Kazakhstan's crude oil production in August 2024 was estimated at 1.45 million barrels per day (mb/d), Trend reports.
OPEC's latest report highlights that the country's oil output fell by 115,000 barrels per day compared to July 2024, when it stood at 1.56 mb/d.
This figure also marks a decline of 13,000 b/d compared to June 2024, when production reached 1.58 mb/d.
In the first quarter of 2024, Kazakhstan’s average daily crude output was 1.614 mb/d, an increase of 8,000 b/d from the 1.606 mb/d recorded in the fourth quarter of 2023. In the second quarter, production dropped slightly to 1.55 mb/d.
Meanwhile, total crude production from non-OPEC countries participating in the Declaration of Cooperation (DoC) averaged 14.07 mb/d in August 2024, down by 108,000 b/d month-on-month. While oil output increased in Mexico and Bahrain, it declined in Kazakhstan and Russia.
From January through July 2024, Kazakhstan produced 44.9 million tons of crude oil. In 2023, the country’s total production reached 90 million tons, marking a 6.9 percent increase from 2022. Kazakhstan aims to produce 97.2 million tons by 2025, with plans to raise production to 104.8 million tons by 2029.