World oil supplies in January increased by 590 thousand b / d-IEA

16:33 15.02.2021 3357

Global oil supplies rose by 590,000 barrels per day in January to 93.6 million barrels per day, as production cuts by OPEC+ members eased and countries outside the deal increased production, according to a report by the International Energy Agency (IEA), INTERFAX reports.

The IEA forecasts that global output will fall in February as Saudi Arabia implements a significant voluntary reduction. "Prospects are improving for countries outside the OPEC + alliance: in 2021, an increase of 830 thousand b/d is expected, compared with a loss of 1.3 million b/d in 2020," the agency writes.

The IEA expects that OPEC+ countries will gradually ease production cuts in the second quarter - a decline in production of 5.8 million barrels per day (compared to production in October 2018). In this case, OPEC+ production, according to the IEA, will grow by about 800 thousand b/d this year.

Other articles
President approved the draft State Budget of Turkmenistan for 2022

President of Turkmenistan Gurbanguly Berdimuhamedov at a government meeting last Friday approved the draft State Budget for 2022 and sent it for consideration to the Mejlis.

Dragon Oil is gold sponsor of the International Conference «Oil and Gas of Turkmenistan – 2021»

These days, active work continues on the preparation of the XXVI International Conference «Oil and Gas of Turkmenistan», which will be held on October 27-28 in Ashgabat.

The amount of foreign transactions at the exchange of Turkmenistan amounted to about 16 million US dollars

9 transactions were registered at the auction of the State Commodity and Raw Materials Exchange of Turkmenistan last week.

Gurbanguly Berdimuhamedov urged CIS countries to build up economic cooperation

The President of Turkmenistan took part in a meeting of the Council of Heads of State of the CIS, which took place on October 15 in the format of videoconferencing.

In January-March, the trade turnover of Turkmenistan with Russia increased by 10.4%

Trade turnover between the Russian Federation and Turkmenistan in January-March 2023 increased by 10.4%. This was reported by the newspaper “Neutral Turkmenistan”.