Middle East Economic Survey

VOL. LII

No 4

26-Jan-2009

CASPIAN

Kazakhstan May Trim 2009 Oil Production

Kazakhstans Minister of Economy and Budget Planning Bakhyt Sultanov told reporters on 20 January that Astana might cut its planned oil production level for 2009 by 3mn tons (60,000 b/d) in response to lower estimates of global oil demand. Mr Sultanov said that, if the oil price remains at around $40/B, Kazakhstan would reduce its targeted output from 77mn tons (1.55mn b/d). In 2008 Kazakhstan...