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 8475

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
166dfdce9d196d.jpg
Foreign Ministers of Turkmenistan and Malaysia discussed issues of enhancing bilateral cooperation

The issues of enhancing Turkmen-Malaysian partnership relations were discussed at a meeting between Minister of Foreign Affairs of Turkmenistan Rashid Meredov and the Malaysian delegation headed by Minister of Foreign Affairs Dato Seri Utama Haji Mohamad bin Haji Hassan, the Ministry of Foreign Affairs of Turkmenistan reports.


16200c5b14236e.jpeg
The leaders of Turkmenistan and China agreed to build a new gas pipeline to China

President of Turkmenistan Gurbanguly Berdimuhamedov held a meeting with President of the People's Republic of China Xi Jinping as part of his visit to Beijing last Saturday, the State News Agency of Turkmenistan reports.


16200db436210a.jpeg
Fuel oil and gasoline ECO-93 worth more than 52 million US dollars sold at the stock exchange of Turkmenistan

36 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan over the past week.


166dfdcbef2ddc.png
Liquefied gas, diesel fuel and jet fuel were sold abroad at the auctions

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


1684a868de806b.jpg
Russia is one of Turkmenistan's key trading partners

Russia remains one of Turkmenistan's key trading partners with an annual trade turnover of over 1.6 billion US dollars. This was stated by Vice-Chairman of the Cabinet of Ministers of Turkmenistan Hojamyrat Geldimyradov at an official reception in honor of Russia Day, organized on June 11 by the Russian Embassy at the Yildiz Hotel, the news portal of the State Television and Radio Broadcasting Company of Turkmenistan reports.