Kazakhstan Oil Output Plummets After Terminal Closure

Kazakhstan's oil output has plummeted after drone attacks forced the closure of its main exporting terminal, sources say.

The Black Sea terminal serves as the primary outlet for the country's crude shipments and was recently targeted by drone attacks, leading to a sharp decline in oil production.

Output at the Chevron-led Tengiz field, Kazakhstan's largest oilfield, has more than halved, falling from an average of 925,000 barrels per day in July to around 406,000 bpd on Wednesday.

The overall oil and gas condensate output in Kazakhstan declined by almost 21% on Wednesday, down to 1.63 million bpd from July's average of 2.07 million bpd.