BAKU, Azerbaijan, December 11. Kazakhstan's crude oil production in November 2024 was estimated at 1.49 million barrels per day (mb/d), Trend reports.
OPEC's latest report highlights that the country's oil output grew by 202,000 b/d compared to October 2024, when it stood at 1.29 mb/d.
However, this figure marks a decline of 95,000 b/d compared to September this year, when production reached 1.59 mb/d.
In the first quarter of 2024, Kazakhstan’s average daily crude output was 1.614 mb/d, followed by a decline to 1.555 mb/d in the second quarter, and 1.545 mb/d in the third quarter of the current year.
Meanwhile, Kazakhstan's oil production is forecast to reach 88.4 million tons by the end of 2024, as stated by the country’s Minister of Energy Almassadam Satkaliyev.
"By the end of October, production had totaled 73.5 million tons," he noted. The decline in output is partly due to Kazakhstan’s commitments under the OPEC+ agreement. As part of OPEC+, Kazakhstan has agreed to a production cap of 1.468 million barrels per day (mb/d) in 2024. "Adhering to these obligations is crucial for maintaining global oil market stability," Satkaliyev emphasized.
