Oil continues to grow thanks to lower US reserves, Brent - $79.39 per barrel
15:48 31.12.2021 5241
Oil quotes continued moderate gains on Thursday morning, thanks to data on a larger-than-expected reduction in US oil inventories last week.
As reported by Interfax, the cost of February futures for Brent on the London ICE Futures exchange by 8:12 Moscow time was $79.39 per barrel, which is $0.16 (0.2%) higher than the price at the close of the previous session. As a result of trading on Wednesday, these contracts increased in price by $0.29 (0.4%) – up to $79.23 per barrel.
The price of WTI crude oil futures for February in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $76.74 per barrel, having risen by $0.18 (0.24%) compared to the final value of the previous session. By the close of trading the day before, the value of these contracts increased by $0.58 (0.8%) and amounted to $76.56 per barrel.
During the trading session the day before, the oil price reached its maximum values since the end of November. And since the beginning of the year, both brands have risen in price by more than 50%, which has not been seen in over a decade, Trading Economics reports.
As it became known the day before, commercial oil reserves in the United States decreased by 3.58 million barrels last week, while experts interviewed by Bloomberg were expecting a reduction of 2.7 million barrels. Inventories of gasoline decreased by 1.46 million barrels, distillates – decreased by 1.73 million barrels.
In addition, investors are increasingly betting that governments will not introduce new travel restrictions amid new evidence that the omicron coronavirus strain is less dangerous than previous options.
Market attention is now shifting to the OPEC+ meeting on January 4. At this meeting, representatives of oil-producing states will discuss plans to increase production by the planned 400 thousand barrels per day in February.
Measures to increase oil and natural gas production were discussed at a government meeting
On May 17, President Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via the digital system, at which topical issues of the country’s socio-economic development were discussed.
Hyundai Engineering is a bronze partner of the International Forum of Turkmenistan in Dubai
Hyundai Engineering is a bronze partner of the International Forum on Attracting Foreign Investment in the Energy Sector of Turkmenistan, which will be held on April 26-27, 2023 at the Hyatt Regency Hotel in Dubai. This is reported by the organizers of the upcoming event.
ADB forecasts 6.5% GDP growth in Turkmenistan in 2023, taking into account the growth in production and export of hydrocarbons
The Asian Development Bank (ADB) predicts Turkmenistan’s GDP growth in 2023 at 6.5 percent, which is the highest among Central Asian countries. This is stated in the April review of the ADB, published on the bank’s website.
Opening of a gas turbine power plant is one of the important results of cooperation between Japan and Turkmenistan in 2021, – Ambassador
One of the important events of the Turkmen-Japanese cooperation last year was the opening of a gas turbine power plant in Chardzhev etrap of Lebap region, built in cooperation with Japan. This was stated by the Ambassador Extraordinary and Plenipotentiary of Japan to Ashgabat Yamamoto Hiroyuki in his congratulatory message to the citizens of Turkmenistan on the occasion of the New Year, which was published on the official website of the embassy.