Kazakhstan Targets 96M Tons of Oil Production in 2027 Amid Disruptions

Kazakhstan plans to increase its oil production in 2027 to 96 million tons, according to the country's Kurultai. The First Vice Minister of National Economy, Azamat Amrin, made this announcement during a meeting.

The current year was initially forecasted for 100.5 million tons but has actually reached 96 million tons so far. For next year, 2027, an additional growth of up to 100 million tons is expected, with the target being 99 million tons.

The draft national budget for 2027-2029 assumes an oil price of $70 per barrel. This comes after the Government of Kazakhstan revealed that oil production decreased by 8.4% year-on-year in January-August 2026 to 61.7 million tons, with the forecasted figure for this year revised down to 96 million tons.