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Kazakh Energy Minister on Oil Supply Demands
The Kazakh Ministry of Energy stated that the country's partners are demanding an increase in oil supply despite the restrictions imposed under the OPEC+ agreement. Kazakhstan is being asked to boost production to the maximum extent possible, despite limited infrastructure and the constraints of the Strait of Hormuz. Kazakhstan has postponed the maintenance of the Kashagan field until 2027 and is preparing to increase oil exports via the Baku-Tbilisi-Ceyhan pipeline from 1.5 to 2.2 million tons annually. It is expected that oil production will reach 98 million metric tons this year. Kazakhstan is a member of the OPEC+ coalition, which aims to stabilize the global oil market.
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