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
Latest news
- Orda.kz Editorial Team to Cease Operations on September 1
- The Price of a Degree: How Students in Kazakhstan Pay for University
- Second Przewalski’s Horse Foal Born as Species Returns to Kazakhstan
- Kazakh Mining Companies Can Recalculate Purchases if Tenge Weakens
- Kazakhstan Names First Vice President in Three Decades
- What Almaty’s Bus Shelters Are Missing
- 400-Truck Queue Builds at Kazakh–Kyrgyz Border
- Kazakhstan Ready to Help Feed and Rebuild Gaza
- Tokayev Establishes New Presidential Security Body
- Almaty Takes Back Its Nearly Century-Old Hippodrome
- No More Guesswork on Savings: Kazakhstan Tightens Energy Audits for Businesses
- Public Money Could Be Used to Rescue Failing Kazakh Banks
- Third Kazakh Woman Reported Missing in Nepal-China Flood Zone
- Falconer Convicted Over 35 Protected Birds, Spared Punishment Under Amnesty
- Kazakh Citizen Detained in Yakutia in Phone Fraud Case
- Yuan Instead of Dollars? KazMunayGas Draws Record Demand in Asia
- China Gains Oil-Market Influence as OPEC+ Weakens
- Kazakhstan to Divide Smartphones Into White, Gray and Black Lists
- Kazakhstan’s Government Formally Resigns as First Kurultai Session Opens
- Rare Lynx Sighting Recorded in Northern Kazakhstan
