OPEC + countries agree to increase oil production from January by 0.5 million barrels per day
01:35 06.12.2020 7836
OPEC+ ministers on Thursday approved the decision to increase oil production from January 2021 by 0.5 million barrels per day, meetings will be held on a monthly basis, sources in OPEC said, TASS reports.
"Yes, we supported an increase of 0.5 million barrels per day. The meetings will be monthly to monitor the market situation. Starting from January, the increase will be by 0.5 million barrels per day, depending on market conditions," they said.
In total, in January, OPEC+ will reduce production by 7.2 million barrels from the level of October 2018, while the original terms of the deal assumed a reduction of 5.8 million.
"The market is delighted that OPEC+ has made the decision to proceed with caution and in small steps. That sounds reasonable given the uncertainty ahead. The fact is that as oil prices rise, the desire to limit supply weakens", - IHS Markets analyst Victor Shum told Bloomberg.
On Friday, the oil market was optimistic due to the results of the OPEC + meeting held on Thursday. In the morning, oil prices showed steady growth: the price of Brent approached $ 50 per barrel. The price of February futures for North Sea oil mixture of Brent rose by 1.95% - up to 49.66 dollars per barrel, January futures for WTI - by 1.69%, up to 46.41 dollars per barrel.
800 delegates from 20 countries of the world will take part in the scientific forum on environmental aspects of the development of the fuel and energy complex
The International Scientific and Practical Conference: «Energy Prospects, New Technologies for the Development of Hydrocarbon Deposits» in the Year «The Happy Youth with Arkadag Serdarly» will be held at the Yagshygeldi Kakayev International Oil and Gas University on June 15.
Pre-conference day of the TESC 2025 forum
On Thursday, June 5, the International Scientific and Practical Conference "Environmental Aspects of Implementation of Innovative Technologies in the Development of Hydrocarbon Deposits" (TESC) will open in Ashgabat. The forum is organized by the State Concerns "Turkmengas", "Turkmennebit", the State Corporation "Turkmengeology" together with the "Turkmen Energy Forum".
Turkish company to build new gas compressor station in Turkmenistan
The President of Turkmenistan signed a Resolution authorizing the State Concern "Turkmengas" to enter into a contract with Çalik Enerji Sanayi ve Ticaret A.Ş. (Republic of Turkey) for the design, construction and equipping of the Shatlyk-1 gas compressor station in Mary velayat with the necessary equipment and commissioning, TDH reports.
The results of the work of the oil and gas complex of Turkmenistan for five months were summed up at the industry meeting
On Monday, June 12, a reporting meeting was held in the Central building of the oil and gas complex of Turkmenistan, at which the results of the work of enterprises in the industry for five months of this year, held under the motto “The Year of Happy Youth with Arkadag Serdarly”, were discussed.
Gurbanguly Berdimuhamedov: one of the priorities of cooperation between Turkmenistan and China is the fuel and energy sector
One of the priorities of cooperation between Turkmenistan and the People's Republic of China is the fuel and energy sector. This was stated by President of Turkmenistan Gurbanguly Berdimuhamedov in an interview with Chinese media before his trip to China to participate in the opening of the 2022 Winter Olympic Games in Beijing.