Kazakhstan's oil output to increase

Kazakhstan’s oil output in 2023 is expected to increase by 0.1 mb/d, according to the monthly oil outlook from OPEC.

According to OPEC, Kazakhstan's liquids output in March declined by a minor 5,000 b/d month-on-month to average 2 mb/d.

"Crude production was down by a minor 6,000 b/d month-on-month to average 1.6 mb/d, while NGLs and condensate remained roughly unchanged month-on-month to average 0.4 mb/d," the report said.

The forecast for the country's liquids supply for the current year has been downgraded slightly by 7,000 b/d, compared to the previous assessment, Trend reported.

Thus, in 2023 Kazakhstan's oil production is forecast to stand at 1.9 mb/d.

OPEC recalled that the Caspian Pipeline Consortium has halted operations at its crude export terminal near Russia's Black Sea port of Novorossiysk for an unspecified period of planned maintenance in April.

According to the outlook, Kazakhstan is named as one the drivers for global oil supply growth in 2023, along with US, Brazil, Norway, Canada, and Guyana.