OPEC expects drop in oil demand in 2020 to 90.7 million b / s with growth to 97.7 million b / s in 2021
19:42 15.07.2020 7902
The forecast for oil demand in 2020 has been increased by 100 thousand barrels per day - up to 90.7 million bpd, which means a decrease of 8.9 million bpd compared to 2019, INTERFAX reports with reference to the OPEC monthly report. At the same time, in 2021, the consumption of liquid hydrocarbons will increase by 7 million b / s - up to 97.7 million b / s, although it will remain below the level preceding the COVID-19 pandemic, the cartel said. Preliminary data showed that in May general commercial reserves OECD oil prices grew for the third month in a row - by 29.9 million barrels compared to April, to 3.167 billion barrels, OPEC writes. This figure was 233.2 million barrels higher than the same period last year, and 209.5 million barrels above the five-year average. At the same time, oil reserves grew by 9.7 million barrels, and oil products - by 20.2 million barrels compared to the previous month. According to preliminary data for June, total commercial oil reserves in the United States grew by 31.7 million barrels per month and amounted to 1.462 billion barrels. This figure is 158 million barrels higher than a year ago, and 173 million barrels above the average for the last five years. Oil and petroleum product inventories in the United States grew by 6.8 million barrels and 24.9 million barrels, respectively.
TEIF 2025 in Kuala Lumpur demonstrates Turkmenistan’s growing attractiveness
The International Forum on Attracting Foreign Investments into the Economy of Turkmenistan TEIF 2025, held on April 23-24 in Kuala Lumpur, the capital of Malaysia, has come to an end.
Hydrogeologists conduct an effective search for groundwater in Dashoguz region
The Dashoguz hydrogeological expedition, which is one of the leading enterprises of the State Corporation «Turkmengeology», is confidently entering the new year 2022, the motto of which is «Epoch of people with Arkadag». For a number of years, the expedition's specialists have been demonstrating effective results in the study of the reclamation and ecological state of lands and in the search for drinking water resources.
Demand for oil in 2022 will grow by 3.3 million barrels per day, the market will be in short supply – IEA
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).
Presidents of Turkmenistan and Uzbekistan discussed key issues of bilateral partnership by phone
Key issues of bilateral partnership were discussed by President of Turkmenistan Gurbanguly Berdimuhamedov and President of Uzbekistan Shavkat Mirziyoyev during a telephone conversation last Thursday, the State News Agency of Turkmenistan reports.
GaffneyCline CEO Talks Energy Potential of Turkmenistan’s Offshore Sector
At the Turkmenistan International Investment Forum (TEIF 2025), Stephen Travers, Regional Director of GaffneyCline TM Energy Advisory, gave a presentation on the sustainable growth and investment potential of Turkmenistan’s offshore energy sector.