Kazakhstan to Increase Oil Output
Kazakhstan will continue increasing oil production in accordance with the latest OPEC+ agreement, the Ministry of Energy announced. The decision follows a virtual meeting of seven OPEC+ countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — held on June 7. The participating countries agreed to implement a coordinated production increase as part of efforts to support stability in global oil markets.
Under the agreement, the group will increase collective production by 188,000 barrels per day in July 2026, while retaining flexibility to adjust output depending on market conditions. According to OPEC+ data, Kazakhstan’s production quota will rise to 1.608 million barrels per day in July.
The participating countries reaffirmed their commitment to closely monitoring global oil market developments and maintaining the option to pause, accelerate or reverse production adjustments if required.
The Ministry of Energy stated that Kazakhstan will continue to fulfill its obligations under the OPEC+ framework while supporting the gradual expansion of national oil production.
The latest decision reflects producers’ assessment of current market conditions amid ongoing uncertainty surrounding global economic growth and energy demand. OPEC+ members emphasized their commitment to preserving market stability through continued coordination and regular reviews of supply and demand trends.
Kazakhstan remains one of the largest oil producers in Central Asia, with crude oil exports accounting for a significant share of export revenues. Production growth has been supported by expansion projects at major oil fields, including Tengiz, which have contributed to higher output levels in recent months.
Photo credit: Reuters
