BAKU, Azerbaijan, December 13. Kazakhstan's oil output is expected to stand at 1.91 mb/d in 2024, Trend reports.
According to the data provided by the US Energy Information Administration Agency (EIA), the forecast has been revised down slightly by 0.1 mb/d, compared to the previous assessment.
Therefore, the agency anticipates that the country's oil production will reach 1.91 mb/d in the first quarter of 2024, followed by a decrease to 1.90 mb/d in the second quarter, and to 1.87 mb/d in the third quarter of 2024. During the fourth quarter of 2024, Kazakhstan is expected to produce some 1.94 mb/d.
At the same time, Kazakhstan's oil output in 2023 is forecast to stand at 1.92 mb/d - down from 1.96 mb/d projected previously.
The EIA's estimate for the country's liquid output in 2022 stands at 1.83 mb/d.
Meanwhile, in 2022, oil production in Kazakhstan reached 84.2 million tons, equivalent to 101.6 percent of the projected amount. Oil exports for the same year totaled 64.3 million tons, surpassing the plan by 103.4 percent. For 2023, Kazakhstan has set a target to produce 90.5 million tons of oil, with an export target of 71 million tons.