Kazakhstan's Oil Production Drops In May 2024 - OPEC Data

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 21. Kazakhstan's crude production in May 2024 has been estimated at 1.511 million b/d, Trend reports.

According to OPEC's latest report, the country's oil output in the reporting period decreased by 62,000 b/d month-on-month (1.73 million b/d in March 2024).

This volume also decreased by 101,000 b/d, compared to February 2024 output (1.612 million b/d).

In 1Q2024, Kazakhstan's daily crude output totaled 1.613 barrels, an increase of 7,000 b/d from 1.606 million b/d in 4Q2023, and by 84,000 b/d from 1.529 b/d in 3Q2023, the bloc's data says.

Meanwhile, total non-OPEC DoC crude oil production averaged 14.29 mb/d in May 2024, a decrease of 152,000 b/d month-on-month. Crude oil output increased primarily in Mexico, while production in Russia and Kazakhstan declined.

Meanwhile, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year.

Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.


Trend News Agency

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