Brent rose to $107.93 a barrel on fears of a decline in supply
14:53 21.04.2022 11273
Oil quotes are rising on Thursday due to fears of a decrease in supply on the world market with a sharp reduction in US inventories.
Libyan production fell due to political protests, while European countries continue to discuss the possibility of limiting the import of Russian energy resources. Thus, German Foreign Minister Annalena Burbock said on April 20 that Germany would completely stop importing Russian oil by the end of the year.
By 8:15 am Moscow time, June Brent futures rose by $1.13 (1.06%) on the London ICE Futures exchange by $1.13 (1.06%) against Wednesday's closing price and traded at $107.93 per barrel, Interfax reports. During the previous session, Brent fell by $0.45 (0.4%) to $106.8 per barrel.
June futures for WTI by that moment were rising in price in electronic trading on the New York Mercantile Exchange (NYMEX) by $0.99 (0.97%), up to $103.18 per barrel. On Wednesday, the contract rose by $0.14 (0.1%) to $102.19 per barrel.
US commercial oil inventories last week fell by 8.02 million barrels, the fastest pace since January 2021, to 413.73 million barrels, data from the US Department of Energy showed. Experts polled by Bloomberg expected an average increase in stocks of 3 million barrels.
Inventories at the terminal in Cushing, Oklahoma, where oil traded on Nymex is stored, decreased by 185,000 barrels to 26.2 million barrels, the Energy Ministry said. US oil production rose by 100,000 barrels per day (bpd) to 11.9 million bpd.
The Islamic Development Bank will finance a number of projects in Turkmenistan
At the 356th meeting of the Board of Executive Directors of the Islamic Development Bank (IDB), the allocation of US$368.98 million was approved to finance new development projects in member countries. These include projects in Turkey, Turkmenistan and Suriname, the MIC of Turkmenistan reports with reference to the bank’s official website.
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.
The next issue of the journal “Oil, gas and mineral resources of Turkmenistan” was published
The first issue in 2023 of the socio-political and scientific journalism journal “Oil, Gas and Mineral Resources of Turkmenistan” of the State Concern “Turkmennebit” has been published.