Kazakhstan Trims Oil Production Goal Amid Ukraine-Driven Disruptions

Kazakhstan has reduced its oil production target for 2026 due to disruptions caused by Ukrainian drone attacks on the Caspian Pipeline Consortium (CPC). Energy Minister Erlan Akkenzhenov said that the country's goal is now to produce 96 million metric tons of oil, down from a planned 98 million.

The CPC carries around 80% of Kazakhstan's oil exports via the Russian Black Sea port of Novorossiysk. The attacks have resulted in losses of approximately 3.5 million tons of oil, with Akkenzhenov stating that 'the oil production plan will be adjusted due to the attacks on the CPC.'

Kazakhstan is heavily reliant on the CPC for its oil exports, and alternative routes face capacity constraints. The country's President Kassym-Jomart Tokayev has publicly urged Russian and Ukrainian leaders to pursue peace talks.