Why is Kazakhstan cutting CPC Blend oil exports in June, and how significant is the drop?

Kazakhstan is cutting CPC Blend crude exports in June due to scheduled maintenance at the Kashagan oil field, which is expected to last from the end of May through late June. As a result, CPC Blend loadings will fall to 1.3 million–1.4 million barrels per day in June, down from a near-record 1.7 million barrels per day planned for May.

What role does CPC Blend play in Europe’s oil supply, especially amid Middle East disruptions?

Kazakhstan is the second-largest crude supplier to Europe, and about 80% of its oil exports are shipped via the Caspian Pipeline Consortium (CPC) system; CPC Blend — over 90% of which is Kazakh-origin crude — has become critically important as European refineries seek to replace sharply reduced flows from the Persian Gulf following the Iran war, which brought shipping through the Strait of Hormuz to a near-halt.

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Kazakh CPC Oil Exports to Drop as Europe Faces Tight Supplies

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