Kazakhstan to produce 1.6 mb/d of crude in 2024, following OPEC+ decision

Kazakhstan to produce 1.6 mb/d of crude in 2024, following OPEC+ decision

BAKU, Azerbaijan, June 4. Kazakhstan will adjust its oil production level to 1.628 mb/d throughout 2024, TurkicWorld reports.

As indicated in the OPEC’s statement, following the ministerial meeting held today in Vienna, to achieve and maintain market stability and establish long-term predictability, a new decision has been made to set the crude oil production level at 40.46 million barrels per day for both OPEC and non-OPEC countries.

The block also decided to hold the 36th Ministerial Meeting on November 26, 2023.

Earlier, OPEC predicted Kazakhstan’s crude production in 2023 to increase by 0.1 mb/d to stand at 1.9 mb/d.