Kazakhstan oil exports rise 3% despite Italy demand drop
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Kazakhstan's oil exports rose 3% to over 21.9 million tons in the first half of 2026, despite a sharp drop in demand from its main buyer Italy, according to Lada.kz citing LS. The shift reflects a reorientation of export flows as Italy's share declined.
Export Volume Growth
Kazakhstan's total oil exports reached 21.9 million tons in January-June 2026, a 3% increase year-on-year, according to data from the Bureau of National Statistics cited by LS. The growth occurred even as Italy, traditionally the largest buyer, reduced its purchases by 12% to 5.4 million tons. Other European destinations, including France and the Netherlands, increased their intake by 8% and 5% respectively.
Italy's Declining Share
Italy's share of Kazakhstan's oil exports fell to 24.7% from 28.9% a year earlier, reflecting weaker refinery demand in Southern Europe. The drop was attributed to lower throughput at Italian refineries and increased competition from North African crude. Kazakhstan's energy ministry has not commented on the shift.
What's Next
Kazakhstan is expected to release August export quotas next week, which may indicate further diversification. It remains unclear whether Italy's demand will recover or if new buyers in Asia will emerge to fill the gap.
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Kazakhstan oil exports rise 3% despite Italy demand drop
