Yerlan Akkenzhenov, Kazakhstan’s energy minister, said he expects global oil prices to remain around $80 per barrel but noted that a significant increase could bring major additional revenue to the country.
Speaking about possible market scenarios, Akkenzhenov said that if oil prices reach $100 per barrel, Kazakhstan could receive about $20 billion in extra revenue for its national budget and the National Fund of Kazakhstan. If prices reach $120 per barrel, the additional revenue could rise to approximately $37 billion.