Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel
14:40 19.11.2021 3406
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.
Head of CNPC: China and Turkmenistan have a huge potential for gas cooperation
— China and Turkmenistan are important players in the international energy market. Our countries have a huge potential for cooperation, which is of deep strategic importance, said the President of the Chinese National Oil and Gas Corporation (CNPC) Hou Qijun, speaking on Wednesday at the plenary session of the International Conference «Oil and Gas of Turkmenistan 2023».
Turkmenistan exported natural gas worth $ 6.1 billion to China in January-November
Turkmenistan continues to hold a leading position in pipeline export of «blue» fuel to China. According to the General Customs Administration of the PRC, during January-November 2021, the Celestial Empire received 21.91 million tons of Turkmen natural gas through the Turkmenistan-China pipeline, which is $ 6.1 billion in monetary terms.
The volume of purchases of Turkmen gas by Gazprom will double in 2021, - Russian Ambassador to Turkmenistan
In 2021, the volume of gas purchased by Gazprom from Turkmenistan is likely to double and amount to about 10 billion cubic meters. This was stated on Friday by the Russian Ambassador to Turkmenistan Alexander Blokhin at a press conference at the embassy dedicated to the annual results of the Turkmen-Russian cooperation.
Interview with a participant and sponsor of OGT 2023
The XXVIII International Conference and Exhibition “Oil and Gas of Turkmenistan” (OGT 2023) is being held at the Chamber of Commerce and Industry of Turkmenistan in Ashgabat.
Serdar Berdimuhamedov: Turkmenistan is open to partnership with Turkey in the energy sector
President of Turkmenistan Serdar Berdimuhamedov, speaking during an official visit to Turkey at the opening of the Turkmen-Turkish business forum in Ankara, invited Turkish partners to partnership in the energy sector, TDH reports.