In Kazakhstan, oil production in the first half of 2025 increased by approximately 11.6% to 49.9 million metric tons compared to the same period in 2024. But the country does not plan to leave the group of leading global oil producers OPEC+. This was reported by Reuters, citing high-ranking Kazakh officials, writes UNN.
Details
The Central Asian republic consistently exceeds the quotas set by OPEC+, which unites the Organization of the Petroleum Exporting Countries and other producers led by Russia, causing resentment among some members of the bloc.
Energy Minister Yerlan Akkenzhenov said on Tuesday that Kazakhstan exported 39.6 million tons of oil (1.64 million barrels per day), while exports are expected to be 70.5 million tons this year.
Separately, the country's Prime Minister Olzhas Bektenov stated that Kazakhstan does not plan to withdraw from OPEC+. Although the official also admitted that it is difficult for him to adhere to OPEC+ production quotas.
Bektenov said this was due to the expansion of the Tengiz oil field, the country's largest, led by Chevron (CVX.N).
Kazakhstan's quota under OPEC+ is set to increase to 1.532 million barrels per day in August from 1.514 million barrels per day in July. This does not include gas condensate production, a type of light oil.
Addition
OPEC+ countries plan to approve a significant increase in oil production in September, completing the phased rollback of voluntary cuts. The United Arab Emirates will also receive a larger production quota.