Kazakhstan plans to produce 85.7 million tons of oil by the end of 2021

Kazakh Energy Minister Magzom Mirzagaliyev said that the republic’s oil production by the end of this year will reach 85.7 million tons.

The minister said: By the end of 2021, oil production is expected to reach 85.7 million tons, and export – 67.6 million tons – and according to the plan, the country’s oil production will grow and reach 104.2 million tons by 2030.

Earlier, Lukoil said that by 2050 the price of oil may rise to $ 380 a barrel, as payments for carbon dioxide emissions will increase significantly. Under the transition scenario, Brent crude prices in 2020. It will cost $35, but factoring in inflation, its cost will be $120, and the rest will consist of emissions fees.

Under the equilibrium scenario, the price of oil in 2050 will be $197 per barrel. At current prices, the cost of oil would be $40, inflation would be the same amount, and the rest would be emissions payments.

In early December, Deutsche Bank analysts estimated that oil prices next year could drop below $60 a barrel. This could be due to a significant increase in oversupply, even if the OPEC + countries postpone planned production increases until April.