The OPEC+ Technical Monitoring Committee has lowered its forecast for an oversupply in the market by the end of this year to 400,000 barrels per day from 900,000 earlier, Reuters reported, citing sources in the alliance, Prime reports.

Demand for gas in the world for 8 months of this year decreased by 40 billion cubic meters, almost 30 billion of which fell on the EU countries, this is 73% of the decline in global demand, Gazprom CEO Alexei Miller said, RIA Novosti reports.

The possibilities of organizing an official visit of the President of Turkmenistan Serdar Berdimuhamedov to the State of Qatar were discussed on Tuesday by the Minister of Foreign Affairs of Turkmenistan Rashid Meredov in a telephone conversation with his Qatari counterpart Mohammed bin Abdel Rahman Al Thani. This was reported on Tuesday by the website of the Foreign Ministry of Turkmenistan.

On Monday, August 29, 7 transactions were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan for a total of $18.1 million and 416.4 thousand Turkmen manats, the Turkmen news agency ORIENT reports.

Prospects for further partnership in the fuel and energy sector were discussed on Monday at a meeting between President of Turkmenistan Serdar Berdimuhamedov and Chairman of the Board of Gazprom Alexei Miller.

Last week, 20 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.

By the Decree of the President of Turkmenistan, Mammedov Toygeldi Bayrammyradovich was dismissed from the post of Deputy Chairman of the State Concern «Turkmennebit» as he failed to cope with the duties assigned to him.

The State Concern «Turkmennebit» at its own expense will conclude a contract with the company «KING EASE LIMITED» (PRC) for the purchase of 2309 tons of drill pipes of various sizes.

The state corporation «Türkmengeologiýa» plans to purchase geophysical equipment for the implementation of a modern method of seismic exploration – 3D modeling.

Oil prices are rising moderately on Friday morning after falling the day before, foreign media reported.

The spot price of gas in Europe on Thursday evening continued its active growth. A jump in prices at the end of the European trading session is usually the result of the influence of the growth of quotations in the Asian market, Interfax reports.

In the Balkan region, a key region in the oil and gas sector of Turkmenistan, it is planned to increase natural gas production to 11 billion cubic meters per year by 2025. The head of the Department for Analysis of Economic Risks of the Agency for Protection from Economic Risks under the Ministry of Finance and Economy of Turkmenistan, Hangeldi Gurbangeldiev, said this in a commentary for the official Turkmen press.

On Monday, August 22, 12 transactions were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan for a total of $5.4 million, the ORIENT news agency reported.

At the 77th session of the United Nations General Assembly, which starts in New York in a few weeks, Turkmenistan will propose a number of initiatives, including in the energy sector. This is reported by the Ministry of Foreign Affairs of Turkmenistan.

For seven months of 2022, the State Concern «Turkmennebit» produced about 2 million 123 thousand tons of «black gold» and 2 billion 613 cubic meters of «blue fuel» from industrially developed wells. At the same time, the planned production plan for this period was fulfilled by 101.1% and 115.3%, respectively.