The Organization of the Petroleum
Exporting Countries (OPEC) forecasts an uptick in oil and liquid hydrocarbon
production in Kazakhstan in 2025. The latter is projected to grow by 120,000
barrels per day, reaching 2.1 million barrels, according to OPEC’s March
report. This year’s output stands slightly lower at 1.9 million barrels.
Experts attribute this anticipated growth primarily to the future expansion of
oil extraction at the Tengiz oil field. Overall, in January, Kazakhstan
extracted 15,000 more barrels of oil per day, averaging around 1.6 million
barrels daily. Despite this, Kazakhstan exceeded its commitments within the
voluntary agreements of OPEC+, according to analysts. This measure is aimed at
maintaining stability and balance in all oil markets. Now the country plans to
offset overproduction until May. At the same time, OPEC predicts a significant
surge in global oil and liquid hydrocarbon consumption. By 2025, world oil
demand is expected to exceed 106 million barrels per day.
