OPEC updates Kazakhstan’s oil and gas liquids output for 2023

Kazakhstan Materials 15 February 2023 15:08 (UTC +04:00)
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, February 15. Kazakhstan’s liquid output is expected to increase by 157,000 barrels per day, Trend reports, referring to the monthly Oil Market Report issued by OPEC.

In addition to the Kashagan oil field ramp-up, OPEC expects oil output in the Tengiz field and gas condensate production in the Karachaganak field to rise marginally.

The report indicates that the output of the liquids in Kazakhstan remained relatively unchanged and averaged 2 million barrels per day in December 2022, and the natural gas liquids (NGL) production remained steady at 0.4 million barrels per day. Total liquids output was the highest monthly level in 2022.

Meanwhile, crude production in December 2022 was up by a minor 7,000 barrels per day

The report indicates that Kazakhstan will be one of the major non-OPEC drivers of liquids supply in 2023. The role of the US, Guyana, Norway, Brazil, and Canada in supplying the global energy market is also expected to increase.

Meanwhile, the output of Russia and Mexico is expected to reduce.

The OPEC Monthly Oil Market Report covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The next edition of the report will be published on 14 March 2023.