Kazakhstan Oil Exports Halted Again by Russian Drone Strikes

Kazakhstan's main oil export terminal on the Black Sea has shut down again due to drone strikes in Russia. The Caspian Pipeline Consortium (CPC), which owns the terminal and pipeline, suspended crude oil tanker loading after two vessels were hit at and near the terminal in Novorossiysk.

The CPC handles 80% of Kazakhstan's oil exports, making this shutdown particularly significant for the country. Kazakhstan is Central Asia's largest economy and a major producer of energy and mineral resources, accounting for about 2% of global daily oil supplies.

This is the third time this month that the terminal has been shut down due to drone strikes. The previous suspensions forced Kazakhstan to temporarily cut oil production as there was no easy alternative route for delivering crude to global markets.