Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel
09:40 19.11.2021 5096
Oil finished trading on Wednesday at the lowest level since early October and continues to fall in price.
The market continues to react to news that the administration of US President Joe Biden is considering selling oil from the strategic reserve. At the same time, during a virtual summit with Chinese President Xi Jinping, the possibility of a similar step by China was discussed, Interfax reports.
The oil market was not supported even by the data on the reduction of oil reserves in the US last week, MarketWatch notes.
January futures for Brent oil on the London stock exchange ICE Futures by 08:05 Moscow time fell in price by $ 0.28 (0.35%) – to $ 80 per barrel. On Wednesday, their price fell by $ 2.15 (2.6%) and amounted to $ 80.28 per barrel at the close, which is the lowest level since October 7.
Quotations of futures for the WTI grade for December in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning are reduced by $ 0.67 (0.86%) – to $ 77.69 per barrel. As a result of the previous session, their price fell by $ 2.4 (3%), ending the day at $ 78.35 per barrel – at least since October 1.
Oil reserves in the United States last week decreased by 2.1 million barrels – to 433 million barrels, the country's energy ministry said. Gasoline reserves decreased by 707 thousand barrels, distillates – by 824 thousand barrels.
Ashirguly Begliev appointed Advisor to the President of Turkmenistan on oil and gas issues
Ashirguly Begliev has been appointed Advisor to the President of Turkmenistan on oil and gas issues.
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).
New Vice-Chairman for Fuel and Energy Complex of Turkmenistan appointed
Amanov Batyr Amangeldiyevich, who until that time had headed the State Concern “Turkmengas”, was appointed as the new Vice-Chairman for the fuel and energy complex of Turkmenistan.
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.
Labor successes of gas workers
Employees of the State Concern "Turkmengas" are making every effort to fulfill the tasks set by the head of state to increase the volume of natural gas production in the country. Of course, for domestic gas workers, this year, passing under the motto “The Fount of the Mind of Magtymguly Fragi,” like previous ones, will be marked by enormous labor successes.