Kazakhstan expects oil production to decrease to 74 million tons in 2016, the Kazakh Energy Minister Kanat Bozumbayev said, adding that the oil production in Kazakhstan exceeded forecast by 4% in January-April this year.
"In view of world oil prices in the range of $ 30 per barrel before the end of this year, oil production is scheduled at 74 million tons," he said, noting that the volume of oil production has totaled 26.2 million tons during the first 4 months of 2016.
He recalled that world prices will come to the balance only in 2017-2018 reaching $60- 65 per barrel.
Kazakh Energy Ministry about its oil production plans
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