The price of Brent rose above $100 per barrel again
09:14 27.08.2022 9439
Oil prices are rising moderately on Friday morning after falling the day before, foreign media reported.
According to Interfax, the cost of October futures for Brent on the London ICE Futures exchange by 8:03 Moscow time on Friday amounted to $100.12 per barrel, which is $0.78 (0.79%) higher than the closing price of the previous session. As a result of trading on Thursday, these contracts fell by $1.88 (1.9%) to $99.34 per barrel.
The price of futures for WTI for October in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $93.28 per barrel, which is $0.76 (0.82%) more than the final value of the previous session. By the close of trading the day before, the cost of WTI fell by $2.37 (2.5%) to $92.52 per barrel.
«Oil traders are focusing on just two things,» Naeem Aslan, senior market analyst at AvaTrade, said. «It's the possibility of a nuclear deal on Iran that would bring Iranian oil back to the market, and more importantly, OPEC production».
«There are a lot of rumors in the market that a deal with Iran is very likely, as the country appears to have abandoned some important demands», he added.
Meanwhile, Saudi Arabia, OPEC's largest oil producer, has begun talking about the cartel's production cuts, the expert said. «This allows to calm the main fear of traders that the return of Iranian oil to the market will destabilize the balance of supply and demand», Aslan said.
The next OPEC+ meeting will take place on September 5.
Green technologies against desertification are being implemented at Galkynysh gas field
CNPC Chuanqing Drilling Engineering Co., Ltd., a branch of CNPC, is actively implementing a project to combat wind erosion of soils caused by frequent sandstorms and low vegetation at the Galkynysh gas field in Turkmenistan, according to a press release from CNPC.
In the future, we will make every effort for long-term cooperation with Turkmenistan in the gas sector, - head of CNPC
The commissioning of a new facility in the Bagtyyarlyk contract area, the opening of which was attended by the President of Turkmenistan, is an unforgettable event for both Chinese and Turkmen specialists. This was stated by the President of the CNPC Board of Management Hou Qijun, speaking to the participants of the celebration on the occasion of the commissioning of a new gas gathering station in the Farap etrap of the Lebap velayat.
IUOG named after Ya. Kakayev and Petronas Carigali (Turkmenistan) signed a Memorandum of Understanding
The International University of Oil and Gas named after Yagshygeldi Kakayev and Petronas Carigali (Turkmenistan) Sdn Bhd signed a Memorandum of Understanding, the News Portal of the State Television and Radio Broadcasting Company of Turkmenistan reports.
The President of Turkmenistan took part in the opening of a new gas gathering station in Lebap region
As part of a festive trip last Saturday to the Lebap region, President of Turkmenistan Serdar Berdimuhamedov took part in the solemn ceremony of commissioning a new gas gathering station.
SPIEF: Turkmenistan considers energy and transport among the key areas of integration within the CIS
Cooperation in the energy and transport sectors can become strategic areas of integration within the CIS. This was stated by the Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov, speaking on Thursday at the St. Petersburg International Economic Forum (SPIEF), the Turkmen news agency Orient reports.