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Kazakhstan cuts oil output after drone attack
Oil production in Kazakhstan has been temporarily halted following drone attacks suspected to be Ukrainian on a Black Sea export port, resulting in a significant reduction in oil supplies. This has added to the pressures on the global oil market, which is already facing crises due to the closure of the Strait of Hormuz and Saudi export threats. The ministry has not precisely specified the extent of the cuts, but one source reported that the largest oil fields have reduced their production by more than 50%. This comes at a time when reports forecast a supply deficit in the oil market during 2026, amid ongoing geopolitical tensions that drive up oil prices, with crude reaching $100 per barrel according to researchers' predictions.
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