Demand for oil in 2022 will grow by 3.3 million barrels per day, the market will be in short supply – IEA
16:18 19.01.2022 5541
Demand for oil in 2021 increased by 5.5 million barrels per day, and in 2022 it will increase by 3.3 million bpd, Interfax and Bloomberg report citing a report by the International Energy Agency (IEA).
The agency sees a tighter market than previously thought as demand has been hit surprisingly little by the omicron strain of COVID-19 while supply has been held back by disruptions.
Global market surpluses are shrinking this year, and oil demand, up slightly from last month, is approaching a pre-pandemic level of 99.7 million b/d, the IEA said in a monthly report. At the same time, supplies have been tight as the OPEC+ coalition struggles to restore stalled production, and producers elsewhere suffer from a series of disruptions, reducing spare capacity.
As the number of omicron cases rises worldwide, demand for oil exceeded all expectations in the fourth quarter, the report says. 2021, an increase of 1.1 million b/d to 99 million b/d.
“A seasonal decline in demand is expected in 1 quarter of 2022, exacerbated by more remote work and less air travel. We have raised our estimates of global demand by 200 kb/d for 2021 and 2022, leading to an increase of 5.5 million b/d c and 3.3 million b/d, respectively, due to softer COVID restrictions,” the IEA writes.
According to analysts, in 2021 the demand for oil will be 96.4 million b/d, and in 2022 – 99.7 million b/d.
For five months, the production plan at TCOR was fulfilled by 110.4%
The staff of the Turkmenbashi complex of oil refineries completed the five months of 2022 with good production and economic results. The volume of crude oil refining at the TCOR for this period amounted to more than 1 million 878 thousand tons, while the plan was fulfilled by 110.4%.
President Serdar Berdimuhamedov approved new proposals on cooperation between Turkmenistan and Japan
President of Turkmenistan Serdar Berdimuhamedov approved proposals on strengthening cooperation between our country and Japan, which were voiced at a recent joint meeting of the Turkmen-Japanese and Japanese-Turkmen Committees on Economic Cooperation.
The WTO representative discussed the possibilities of intensifying cooperation at the Ministry of Foreign Affairs of Turkmenistan
Opportunities for enhancing comprehensive cooperation with the WTO were discussed on Monday at a meeting between Vice-Chairman of the Cabinet of Ministers and Minister of Foreign Affairs of Turkmenistan Rashid Meredov and Deputy Director General of the World Trade Organization (WTO) Zhang Xianchen, who arrived in Ashgabat on a working visit. This is reported by the website of the Foreign Ministry of Turkmenistan.
US exports oil from strategic reserves, - media
In June of this year, the United States exported about 5 million barrels of oil from the strategic oil reserves, media reported, citing customs statistics and sources.
Topical aspects of Turkmen-Chinese cooperation discussed
Topical aspects of the Turkmen-Chinese partnership were discussed on December 26 at the Ministry of Foreign Affairs of Turkmenistan at a meeting between Deputy Minister of Foreign Affairs of the country Serdar Muhammetdurdyev and Deputy Head of the International Department of the Central Committee of the Communist Party of China Chen Zhou. This was reported by the Foreign Ministry of Turkmenistan.