Kazakhstan's Oil Output Plummets Amid Ukraine Terminal Disruptions

Kazakhstan's oil production plummeted by more than half after Ukraine's attacks on the Caspian Pipeline Consortium (CPC) export terminal in Novorossiysk forced a halt to loading. The country's daily oil output fell to approximately 1 million barrels per day, down from a June average of 2.16 million barrels per day.

The CPC pipeline is the primary route for Kazakhstan's oil exports, with over 80% of its production flowing through it. Ukraine's strikes on Russian tankers at the terminal had already disrupted operations before Kazakhstan temporarily cut oil production due to suspended loading at the port.

Kazakhstan's Energy Ministry announced that the CPC terminal had resumed receiving and shipping oil after Ukrainian attacks forced the suspension, but did not comment on the drop in production. The country ranks among the world's 10 largest oil producers.