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Mon, Jun 16th, 2025
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ECONOMY
- Kazakhstan
Kazakhstan’s oil production at 7.3 mln tonnes in March -Energy Ministry

Kazakhstan produced 7.3 million tonnes of oil and gas condensate in March, the energy ministry said.

Daily output was 1.475 million barrels, slightly more than it was envisaged by the country’s OPEC+ obligations.

“Deviation from commitments will be compensated in the future, taking into account major repairs for large projects in the summer,” the ministry said in a statement.

“Kazakhstan plans to comply with the obligations under the OPEC+ agreement.”

Kazakhstan is set to increase oil output gradually from May under a fresh deal, that was agreed last month at a ministerial meeting of the OPEC+, a group of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers, including Kazakhstan.

OPEC+ had been cutting output by a little more than 7 million barrels per day (bpd) to support prices and reduce oversupply, but members of the group agreed to ease cuts gradually by 350,000 bpd in May, another 350,000 bpd in June and around 450,000 bpd in July.

Kazakhstan is expected to produce 1.463 million bpd in May, 1.469 million bpd in June and 1.475 million bpd in July.

Apr 9, 2021

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