BAKU, Azerbaijan, May 12. Liquids output in Kazakhstan decreased by 49,000 barrels a day to average 1.9 million barrels a day in March, Trend reports citing OPEC Monthly Oil Market Review.
Crude production declined by 48,000 barrels a day m-o-m to average 1.6 million barrels a day, still lower than December 2021, when the highest output since April 2020 was recorded.
Production of NGLs declined marginally m-o-m in March to average 0.38 million barrels a day. Kazakhstan’s liquids supply forecast for 2021 is estimated to have averaged 1.84 million barrels a day, higher by 0.01 million barrels a day year-on-year.
For 2022, liquids supply is forecast to grow by 0.14 million barrels a day to average 1.98 million barrels a day, revised up by 16,000 barrels a day.
The output disruption in the Caspian Pipeline Consortium (CPC) terminal in the Black Sea was less than the previous estimation for March and April production, which necessitated an upward revision to this month’s assessment.