BAKU, Azerbaijan, May 8. Kazakhstan is projected to produce some 2.09 mb/d of oil in 2025, the US Energy Information Administration Agency (EIA) forecasts, Trend reports.
The agency has revised upwards its forecast for the country's oil output by 0.01 mb/d compared to the previous month's assessment.
As a result, Kazakhstan's crude production is expected to rise by 0.13 mb/d from the projected 1.96 mb/d anticipated for production in 2024.
The agency foresees the country's oil output to have reached 2.08 mb/d in the first quarter of 2025. This will be followed by a slight increase to 2.11 mb/d in the second quarter, followed by a decrease to 2 mb/d in the third quarter of the same year. By the fourth quarter of the following year, Kazakhstan is expected to surge production to approximately 2.18 mb/d.
Meanwhile, the EIA has set the country's production level for 2023 at 1.96 mb/d.
Previously, Kazakhstan's Minister of Energy Almassadam Satkaliev indicated that the country's oil production in 2023 amounted to approximately 90 million tons, falling short of earlier projections of 92-93 million tons. Of the total oil produced in 2023, about 18 million tons were allocated for the domestic market, while approximately 56 million tons were exported through the Caspian Pipeline Consortium.
Furthermore, Kazakhstan aims to boost its oil production to 90.3 million tons in 2024.