CPC Blend, an export blend produced in Kazakhstan, once again ranked among the most expensive crude oil grades in the world, reaching $130.99 per barrel on October 20, 2026, Zakon.kz reported.
Global oil prices are rapidly rising: Brent futures rose to $110.10 per barrel, the highest level since May of this year. Furthermore, over the past year, Brent has increased by over 80%, while the American WTI benchmark has risen to $103.91. Kazakhstan's blend is trading at a significant premium of almost 20% to the global benchmark due to the high quality of its light crude and demand in Europe.
Maintaining these prices until the end of 2026 will generate up to $5.8 billion in additional revenue for Kazakhstan's financial system. Since the country's budget is calculated based on a base price of $60–$70 per barrel, the National Fund could receive $3.5–$4.5 billion in excess tax revenues in the fourth quarter alone, and the national budget could receive approximately $1.3 billion more.
This price rally will ensure a record influx of foreign currency revenue, reduce the need for withdrawals from the National Fund, and strengthen the stability of the national currency. However, it is important for the authorities to contain inflation risks by channeling the resulting excess revenues toward economic diversification and the development of non-resource sectors.
CentralasianLIGHT.org
October 20, 2026