Kazakhstan Increases Oil Output 11.6% to 1.85M bpd, Plans Flat Production Through Year-End, Stays in OPEC+, Exports Via Russian Ports

Kazakhstan has announced plans to maintain its crude oil production at current levels through the end of 2025, according to statements from the country's Energy Ministry and Prime Minister Olzhas Bektenov. Despite increasing output by 11.6% in the first half of the year, reaching approximately 1.847 million barrels per day—well above its OPEC+ quota of 1.5 million barrels per day—Kazakhstan affirmed it has no intention of leaving the OPEC+ alliance. The Prime Minister emphasized that while the country aims to comply with OPEC+ commitments as much as possible, national interests will also be considered, especially in light of the Tengiz oil field expansion which was expected to push output beyond quota limits. Additionally, Kazakhstan continues to export oil through Russian seaports without interruption. The Russian Federal Security Service (FSB) has recently begun granting permissions to foreign tankers to access Black Sea ports, facilitating the resumption of Kazakh oil exports through these routes.