OPEC expects drop in oil demand in 2020 to 90.7 million b / s with growth to 97.7 million b / s in 2021
19:42 15.07.2020 7255
The forecast for oil demand in 2020 has been increased by 100 thousand barrels per day - up to 90.7 million bpd, which means a decrease of 8.9 million bpd compared to 2019, INTERFAX reports with reference to the OPEC monthly report. At the same time, in 2021, the consumption of liquid hydrocarbons will increase by 7 million b / s - up to 97.7 million b / s, although it will remain below the level preceding the COVID-19 pandemic, the cartel said. Preliminary data showed that in May general commercial reserves OECD oil prices grew for the third month in a row - by 29.9 million barrels compared to April, to 3.167 billion barrels, OPEC writes. This figure was 233.2 million barrels higher than the same period last year, and 209.5 million barrels above the five-year average. At the same time, oil reserves grew by 9.7 million barrels, and oil products - by 20.2 million barrels compared to the previous month. According to preliminary data for June, total commercial oil reserves in the United States grew by 31.7 million barrels per month and amounted to 1.462 billion barrels. This figure is 158 million barrels higher than a year ago, and 173 million barrels above the average for the last five years. Oil and petroleum product inventories in the United States grew by 6.8 million barrels and 24.9 million barrels, respectively.
SPIEF: Turkmenistan considers energy and transport among the key areas of integration within the CIS
Cooperation in the energy and transport sectors can become strategic areas of integration within the CIS. This was stated by the Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov, speaking on Thursday at the St. Petersburg International Economic Forum (SPIEF), the Turkmen news agency Orient reports.
The President of Turkmenistan took part in the opening of a new gas gathering station in Lebap region
As part of a festive trip last Saturday to the Lebap region, President of Turkmenistan Serdar Berdimuhamedov took part in the solemn ceremony of commissioning a new gas gathering station.
In the future, we will make every effort for long-term cooperation with Turkmenistan in the gas sector, - head of CNPC
The commissioning of a new facility in the Bagtyyarlyk contract area, the opening of which was attended by the President of Turkmenistan, is an unforgettable event for both Chinese and Turkmen specialists. This was stated by the President of the CNPC Board of Management Hou Qijun, speaking to the participants of the celebration on the occasion of the commissioning of a new gas gathering station in the Farap etrap of the Lebap velayat.
The President of Turkmenistan took part in the nationwide tree planting campaign
More than 539 thousand trees of various species were planted in Turkmenistan as part of the nationwide environmental campaign held on November 9. The event was attended by President Serdar Berdimuhamedov, as well as representatives of the government, military and law enforcement agencies, diplomatic missions and the public.
Wood Mackenzie: Brent oil price will roll back to $85-90 per barrel only by 2025
In the coming years, oil prices will remain at a high level due to the redistribution of supplies on world markets; even a possible decrease in demand will not affect its value. This forecast is given by Wood Mackenzie analysts, Interfax reports.