Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel
09:40 19.11.2021 4914
Oil finished trading on Wednesday at the lowest level since early October and continues to fall in price.
The market continues to react to news that the administration of US President Joe Biden is considering selling oil from the strategic reserve. At the same time, during a virtual summit with Chinese President Xi Jinping, the possibility of a similar step by China was discussed, Interfax reports.
The oil market was not supported even by the data on the reduction of oil reserves in the US last week, MarketWatch notes.
January futures for Brent oil on the London stock exchange ICE Futures by 08:05 Moscow time fell in price by $ 0.28 (0.35%) – to $ 80 per barrel. On Wednesday, their price fell by $ 2.15 (2.6%) and amounted to $ 80.28 per barrel at the close, which is the lowest level since October 7.
Quotations of futures for the WTI grade for December in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning are reduced by $ 0.67 (0.86%) – to $ 77.69 per barrel. As a result of the previous session, their price fell by $ 2.4 (3%), ending the day at $ 78.35 per barrel – at least since October 1.
Oil reserves in the United States last week decreased by 2.1 million barrels – to 433 million barrels, the country's energy ministry said. Gasoline reserves decreased by 707 thousand barrels, distillates – by 824 thousand barrels.
Global demand for oil will grow until 2028, – IEA
The International Energy Agency (IEA) predicts in a June report that global oil demand will reach 105.7 million bpd in 2028, up 5.9 million bpd from 2022 levels.
Corporation “Turkmenenergo” will build solar power plants in remote areas of Turkmenistan
In remote settlements of Turkmenistan, the Turkmenenergo energy corporation plans to build solar power plants with a total capacity of more than 6 MW at the first stage. This was announced by the head of the service for the development of renewable energy sources “Turkmenenergo” Dovlet Allayarov at the International Scientific and Practical Conference: «Energy Prospects, New Technologies for the Development of Hydrocarbon Deposits”, which took place on Thursday in Ashgabat.
Pre-conference events were held at IUOG on the eve of the scientific forum
Two pre-conference events were held at the Yagshygeldi Kakaev International University of Oil and Gas (IUOG) on June 14 on the eve of the International Scientific and Practical Conference: «Energy Prospects, New Technologies for the Development of Hydrocarbon Deposits».
Schoolchildren’s summer holiday season starts in Geokdere
The summer vacation season is currently in full swing in our country. Tired of the school bustle, the children plunged headlong into the atmosphere of joy, fun and new adventures that every day gives them, spent in one of the many children’s health centers in the picturesque corner of our country – the Geokdere Gorge.
TS-1 aviation kerosene and oil bitumen were in demand at exchange trading
At the auction on Monday, June 12, 24 transactions were concluded for a total of $1 million and 150 million Turkmen manats, ORIENT reports.