Oil slightly cheaper after OPEC+ decision to increase production
16:18 03.06.2022 5271
World oil prices fell slightly on Friday morning, remaining above $117 per barrel. This is evidenced by the auction data, the Azerbaijani news agency Report reports.
A day earlier, oil rose in price after the OPEC+ decision to increase oil production, but now investors are largely rethinking the consequences of this decision, according to trading data and analyst comments.
Thus, the price of August futures for Brent crude fell by 0.34%, to $117.21 per barrel, July futures for WTI — by 0.49%, to $116.3.
A day earlier, oil rose in price after the OPEC+ countries decided in July and August to increase oil production more intensively: instead of the planned monthly increase of 432 thousand barrels per day, there will be 648 thousand barrels per day.
OPEC+ explained its decision by the need to meet the growing demand for oil in the world, and not by a decrease in production in Russia due to Western sanctions.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
Turkmenistan started exporting gasoline A-98 of EURO-5 and EURO-6 standards
Turkmenistan has started exporting A-98 gasoline of EURO-5 and EURO-6 standards, the first batches were sold to entrepreneurs from the United Arab Emirates and Afghanistan.