OPEC expects drop in oil demand in 2020 to 90.7 million b / s with growth to 97.7 million b / s in 2021

00:42 16.07.2020 5281

https://oilgas.gov.tm/storage/posts/272/original-15f0ea44b5b734.jpeg

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.

Other articles
1628c5e0b1af5c.jpeg
The products of the TCOR and the State Concern «Turkmengas» are in demand at the auction

54 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.


160c85446b6fcd.jpeg
More than 1.8 million tons of "black gold" were shipped to TCOR in five months

The specialists of the main oil pipelines department have achieved good results in the delivery of "black gold" mined in the Balkan region to TCOR.


160c850d11acb1.jpeg
TCOR exceeded the plan for the production of gasoline and liquefied gas in five months

In the five months of this year, which is held under the slogan "Turkmenistan - the Homeland of Peace and trust", the production of products in demand on the domestic and foreign markets has significantly increased at the Turkmenbashi complex of oil refineries.


161f78079ab716.jpeg
Representatives of Turkmenistan and Pakistan to discuss TAPI projects and power lines in Islamabad

From January 30 to February 4, deputy minister of Foreign Affairs of Turkmenistan Vepa Khadzhiev was seconded to Islamabad, the capital of Pakistan, to conduct comprehensive negotiations on energy projects. The corresponding order was signed by President Gurbanguly Berdimuhamedov during the government meeting held on Friday.


1660271d1b88f9.png
At exchange auctions, fuel and energy products were sold abroad and to the domestic market of Turkmenistan

At the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan, 21 transactions were registered last week.