CPC terminal oil shipments down 4M tons in 9 months, output at 50M tons

Caspian Pipeline Consortium (CPC) marine terminal shipped nearly 50 million tons of oil from January 1 to September 25, 2026, a decrease of about 4 million tons year-on-year. The decline suggests reduced supply from Kazakhstan or operational constraints, potentially tightening global crude availability. The cause is not specified, but the shortfall is material to European and global oil balances.