BAKU, Azerbaijan, August 10. Kazakhstan's liquids supply in 2023 is expected to rise by 0.1 mb/d, averaging 1.9 mb/d, Trend reports.
According to the data received from OPEC, this forecast has been revised up by 9,000 b/d compared to the previous estimate, mainly due to better-than-expected June output.
As the bloc's outlook noted, although a significant power outage disrupted oil production in early July across key oil-producing regions of Mangistau and Atyrau, oil exports are anticipated to remain unaffected.
Liquids production in Kazakhstan experienced a 21,000 b/d month-on-month increase, reaching an average of 1.9 mb/d in June. Crude production saw a 16,000 b/d month-on-month rise, averaging 1.6 mb/d. NGLs and condensate output had a minor 5,000 b/d month-on-month uptick, reaching an average of 0.4 mb/d.
Meanwhile, Kazakhstan's oil production in July 2023 amounted to 1.5 mb/d. As of July, Kazakhstan's quota for oil production under the OPEC+ deal stood at 1.55 million b/d. Thus, according to S&P Global Commodity report, in the reporting period of 2023, Kazakhstan lagged behind the OPEC+ quota by 0.05 mb/d.
