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 4948
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.
World oil supplies hit post-pandemic high in July, – IEA
Global oil supplies in July reached a post-pandemic high amid an increase in production by OPEC+ countries, as well as a significant recovery of the industry after maintenance in a number of regions, Interfax writes, citing a monthly report from the International Energy Agency (IEA).
Participants of the transport conference in Turkmenbashi determined
Delegations from more than 30 states and heads of more than 30 international and specialized organizations confirmed their participation in the forthcoming Transport Conference of Landlocked Developing Countries in the city of Turkmenbashi on August 15-16, which is convened on the initiative of Turkmenistan under the auspices of the UN. This is reported by the website of the Ministry of Foreign Affairs of Turkmenistan.
XXVII International Conference «Oil and Gas of Turkmenistan -2022» will be held on October 26-27
On October 26-27, 2022, Ashgabat will host the XXVII International Conference «Oil and Gas of Turkmenistan -2022». The organizers of the forum are the State Concerns «Turkmengas», «Turkmennebit» and the State Corporation «Turkmengeology» in partnership with the company «Turkmen Forum» with the support of the British company GaffneyCline, according to the website of the organizers.
SC «Turkmennebit» intends to reduce the loss of associated gas
The state concern «Turkmennebit» is working on a massive reduction in the loss of associated petroleum gas, collecting it at the oil wells of the Lebap, Mary and Balkan regions of Turkmenistan.
Spot gas price in Europe exceeds $2,300 per thousand cubic meters
The spot price of gas in Europe has exceeded $2,300 per thousand cubic meters. The cost of the nearest (September) futures on TTF on the ICE Futures exchange reached $2,311 per thousand cubic meters on Thursday afternoon, while trading started at $2,200, Interfax notes.