Kazakhstan to Increase Oil Production Under OPEC+ July Agreement
Kazakhstan will continue increasing oil production in line with the latest OPEC+ decision, according to the Ministry of Energy. The announcement 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 gradually raise production as part of coordinated efforts to support stability in global oil markets.
Under the agreement, the countries will implement a collective production increase of 188,000 barrels per day in July 2026, while maintaining flexibility to adjust output depending on market conditions. According to OPEC+ data, Kazakhstan’s production quota will reach 1.608 million barrels per day in July.
The participating countries reaffirmed their commitment to monitoring global oil market conditions and retained the option to pause, accelerate or reverse production increases if necessary.
The Ministry of Energy stated that Kazakhstan will continue to fulfill its obligations under the OPEC+ framework while pursuing the gradual expansion of oil production.
The latest decision reflects producers’ assessment of current market fundamentals amid ongoing uncertainty surrounding global economic growth and energy demand. OPEC+ members emphasized their commitment to maintaining 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 the country’s export revenues. Production growth has been supported by expansion projects at major oil fields, including Tengiz, contributing to higher output levels in recent months.
Photo credit: Reuters
