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OIL: Kazakhstan Revises Oil Ouptut Target for 2025 Down to 96.2m tons

OIL
Energy BulletsBulletAPACCommodities

Kazakhstan has revised oil output targets for 2025 down to 96.2m tons from 97.2m tons, Interfax said citing the Energy Ministry.

  • Kazakhstan previously lowered its planned oil production for 2024 to 87.8mn tons, from 88.4mn tons previously expected.
  • Observed shipments of CPC Blend crude from the terminal near Novorossiysk jumped to the highest in 11 months in December at around 1.48mb/d and up from 1.31mb/d in November.
  • Kazakhstan last month confirmed commitment to OPEC+ oil production obligations in 2025 amid pledges to compensate for previous overproduction. Kazakhstan’s OPEC quota is set at 1.468mbpd in Q1 2025.      
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Kazakhstan has revised oil output targets for 2025 down to 96.2m tons from 97.2m tons, Interfax said citing the Energy Ministry.

  • Kazakhstan previously lowered its planned oil production for 2024 to 87.8mn tons, from 88.4mn tons previously expected.
  • Observed shipments of CPC Blend crude from the terminal near Novorossiysk jumped to the highest in 11 months in December at around 1.48mb/d and up from 1.31mb/d in November.
  • Kazakhstan last month confirmed commitment to OPEC+ oil production obligations in 2025 amid pledges to compensate for previous overproduction. Kazakhstan’s OPEC quota is set at 1.468mbpd in Q1 2025.