Kazakhstan has received approval to raise its oil output to 1.55 million barrels per day starting in September. The decision was made on August 3 as part of the OPEC+ agreement, Zakon.kz reports.
The agreement allows for a total increase of 548,000 barrels per day in oil production among OPEC+ member states. The move comes amid stable economic forecasts and a favorable global oil market environment, including low global oil inventories. It will allow participating countries to exit voluntary production cuts a year earlier than originally planned - by the end of September 2025 instead of 2026.
Kazakhstan is one of eight countries - including Russia, Saudi Arabia, the UAE, Iraq, Kuwait, Algeria, and Oman - that have agreed to boost production. For Kazakhstan, this means an opportunity to strengthen its position in the global oil market and increase export revenues amid rising demand.
According to OPEC+ data, the following countries have been granted the highest production quotas for September:
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Saudi Arabia – 9.978 million bpd
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Russia – 9.449 million bpd
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Iraq – 4.220 million bpd
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UAE – 3.375 million bpd
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Kuwait – 2.548 million bpd
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Algeria – 959,000 bpd
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Oman – 801,000 bpd
In 2024, Kazakhstan exported 68.6 million tons of crude oil and condensate. Exports are projected to increase to 70.5 million tons in 2025.
The oil and gas sector accounts for about 17% of Kazakhstan’s GDP, nearly 60% of its total exports, and approximately 40–45% of the state budget revenues.
CentralasianLIGHT.org
August 5, 2025