Kazakhstan cuts oil output forecast by 4 mln. tonnes

Kazakhstan cuts oil output forecast by 4 mln. tonnes
  • Clock-gray 10:24
  • calendar-gray 02 April 2020

Kazakhstan’s economy will contract 0.9% this year on lower oil prices and output, forcing the government to withdraw more money from its rainy-day National Fund, Economy Minister Ruslan Dalenov said on Thursday, APA-Economics reports.

The Central Asian nation now plans to produce 86 million tonnes of oil in 2020, down from the previous forecast of 90 million tonnes, Dalenov told a government meeting. 

Emil Ismayilov

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