Baku: Kazakhstan’s crude oil production saw a notable increase in September 2024, reaching 1.54 million barrels per day (mb/d), according to the latest OPEC report. This represents a growth of 75,000 barrels per day compared to August 2024.

According to Trend News Agency, the production figures for September also showed a slight decline from July 2024, when the output was slightly higher at 1.56 mb/d. The first three quarters of 2024 have depicted a fluctuating production trend with an average output of 1.614 mb/d in the first quarter, which then declined to 1.555 mb/d in the second quarter and further to 1.528 mb/d in the third quarter.

The report also highlighted that the total non-OPEC Declaration of Cooperation (DoC) crude oil production averaged 14.06 mb/d in the same month, marking an increase of 47,000 b/d month-on-month. Kazakhstan played a significant role in this increase, despite a drop in production from Russia.

In the broader context, Kazakhstan’s total crude production reached 90 million tons
in 2023, which was a 6.9 percent increase from the previous year. The country has set ambitious targets for the coming years, aiming to produce 97.2 million tons by 2025 and planning to increase this figure to 104.8 million tons by 2029.