OPEC Sets Production Target For Kazakhstan Under New Output Plan

2025-04-03 08:10:43

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 3. Kazakhstan is set to produce up to 1.486 million barrels per day (mb/d) in May 2025, following the latest OPEC+ decision to gradually adjust oil production levels, Trend reports.

During a virtual meeting on April 3, 2025, eight OPEC+ members - Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman - reviewed global market conditions and reaffirmed their commitment to stabilizing the oil market.

The decision aligns with the agreement reached in December 2024 and reaffirmed in March 2025, which outlines a phased return of 2.2 million barrels per day of voluntary production adjustments. As part of this process, the eight countries will collectively implement an increase of 411,000 barrels per day in May.

The OPEC+ members will continue to monitor market conditions through monthly meetings, with the next review scheduled for May 5, when production levels for June will be determined.

Meanwhile, Kazakhstan aims to produce 96.2 million tons of oil and gas condensate in 2025.

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