BAKU, Azerbaijan, May 15. Kazakhstan's oil output in 2025 is projected to stand at 2.03 mb/d, Trend reports.
Thus, the International Energy Agency (IEA) has revised its outlook for the country's oil output by 0.02 mb/d, compared to the previous assessment.
According to the data received from the agency, the country's crude output is forecast to stand at 1.97 mb/d in 1Q2025.
At the same time, Kazakhstan is expected to produce some 1.91 mb/d of oil in 2024, with 1.97 mb/d in 1Q2024, 1.92 mb/d in 2Q2024, 1.89 mb/d in 3Q2024, and 1.84 mb/d in 4Q2024.
The agency anticipates that Kazakhstan's oil production reached 1.93 mb/d in 2023 - up by 0.11 mb/d year-on-year.
Meanwhile, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year.
Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.