Oil: AFK Releases Market Analysis

In its latest analysis, the Association of Financiers of Kazakhstan (AFK) notes that OPEC+ may again postpone increasing production, Orda.kz reports.

The organization initially wanted to increase oil quotas in September but then postponed the decision until January. Economic conditions may cause the deadlines to be delayed again.

Meanwhile, on Monday, November 25, oil prices were $72.6 per barrel.

One reason for the drop is the potential truce between Israel and Lebanon, which might increase oil production in the Middle East. Another is the appointment of the new US Treasury head. 

In the Trump administration, Scott Bessent, a supporter of increasing shale oil production, will occupy this position. 

OPEC+ could again decide not to increase production at its meeting next Sunday.

This may force Kazakhstan to maneuver between its own interests and the cartel’s position. A higher quota would benefit Kazakhstan, allowing it to fully utilize the increase in Tengiz's production capacity. 

Original Authors: Nikita Drobny