Kazakhstan Expects 96 Million Tons Of Oil Production In 2026
The forecast was announced at a meeting of the headquarters for ensuring economic growth chaired by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin, where preliminary economic results for the first eight months of 2026 were reviewed.
“The oil and gas sector is seeing a gradual recovery in oil production. The physical volume index (PVI) for eight months stood at 91.6%, with 61.7 million tons of oil produced, compared with 91.1% and 53.2 million tons in January-July 2026. The adjusted oil production forecast for 2026 stands at 96 million tons, corresponding to a PVI of 91.6%,” the government said.
The government noted that economic growth continues to be driven primarily by steady activity in the non-resource sector.
Manufacturing output increased by 8.4%. The highest growth rates were recorded in machinery manufacturing (21.2%), food production (12.9%), chemicals (27.3%), construction materials (7%), finished metal products (33.3%), rubber and plastic products (18.5%), light industry (70.4%) and pharmaceuticals (38.9%).
Overall industrial production grew by 2.6%.
Significant growth was also recorded in construction (15.6%), transport and warehousing (7.3%), trade (6%), agriculture (5.2%) and communications (4.4%).
According to the Short-Term Energy Outlook released by the U.S. Energy Information Administration (EIA), Kazakhstan's production of petroleum and other liquid fuels is expected to average 2.09 million barrels per day (bpd) in 2026 and 2.21 million bpd in 2027.
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