BAKU, Azerbaijan, September 14. Kazakhstan
expects to produce 96 million tons of oil in 2026, according to the
Kazakh government.
The forecast was announced at a meeting of the headquarters for
ensuring economic growth chaired by Deputy Prime Minister and
Minister of National Economy Serik Zhumangarin, where preliminary
economic results for the first eight months of 2026 were
reviewed.
“The oil and gas sector is seeing a gradual recovery in oil
production. The physical volume index (PVI) for eight months stood
at 91.6%, with 61.7 million tons of oil produced, compared with
91.1% and 53.2 million tons in January-July 2026. The adjusted oil
production forecast for 2026 stands at 96 million tons,
corresponding to a PVI of 91.6%,” the government said.
The government noted that economic growth continues to be driven
primarily by steady activity in the non-resource sector.
Manufacturing output increased by 8.4%. The highest growth rates
were recorded in machinery manufacturing (21.2%), food production
(12.9%), chemicals (27.3%), construction materials (7%), finished
metal products (33.3%), rubber and plastic products (18.5%), light
industry (70.4%) and pharmaceuticals (38.9%).
Overall industrial production grew by 2.6%.
Significant growth was also recorded in construction (15.6%),
transport and warehousing (7.3%), trade (6%), agriculture (5.2%)
and communications (4.4%).
According to the Short-Term Energy Outlook released by the U.S.
Energy Information Administration (EIA), Kazakhstan’s production of
petroleum and other liquid fuels is expected to average 2.09
million barrels per day (bpd) in 2026 and 2.21 million bpd in
2027.
