OPEC reports on oil extraction in Kazakhstan

Oil&Gas Materials 15 May 2019 17:08 (UTC +04:00)

Baku, Azerbaijan, May 15

By Nargiz Sadikhova - Trend:

In year of 2019, Kazakhstan is likely to decrease volume of oil extraction by 70,000 barrels a day, Trend reports citing OPEC report for May 2019.

The decrease of extraction is due to the repair work that is taking place in Kashagan, Tengiz and Karachaganak fields.

Furthermore, the organization is expecting to decrease the oil supply of non-OPEC countries by 30,000 barrels a day to 2.14 million barrels a day. OPEC analysts also estimate the global demand for oil to be 1.21 million barrels a day.

The main exporters of oil in 2019 are expected to be USA, Russia, Brazil, UK, Australia, Ghana and Sudan. In contrast, Indonesia, Vietnam, Kazakhstan, Mexico and Norway are expected to lower the volume of supply.

The previous report issued in April stated that Kazakhstan will reduce the oil extraction by 70,000 barrels a day. Furthermore, the organization estimates that in the first half of the year, countries of the former Soviet Union will increase oil export by 10,000 barrels a day.


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