Brent rose to $107.93 a barrel on fears of a decline in supply
14:53 21.04.2022 11998
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.
Following the results of the 5th meeting of the Turkmen-Chinese Committee for Cooperation, a package of documents was signed
On Monday, November 22, a regular, 5th meeting of the Turkmen-Chinese Committee for Cooperation was held. The meeting, organized by videoconference, was chaired by the co-chairman of the Turkmen part of the committee, Vice-Chairman of the Cabinet of Ministers Serdar Berdimuhamedov and co-chairman of the Chinese part of the committee, member of the Standing Committee of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council of the PRC Han Zheng.
US Ambassador to Turkmenistan believes that Caspian gas pipeline will support EU energy security
The creation of a gas pipeline along the bottom of the Caspian Sea from Turkmenistan to Turkey will be beneficial for these countries and will help ensure the energy security of the European Union. This was stated to journalists by US Ambassador to Turkmenistan Elizabeth Rood, TASS reports.
Serdar Berdimuhamedov will discuss development of Turkmen-Chinese cooperation with Vice Premier of the State Council of the People's Republic of China
Today, November 22, a video communication system will be held between the Vice-Chairman of the Cabinet of Ministers of Turkmenistan Serdar Berdimuhamedov and a member of the Standing Committee of the Politburo of the Central Committee of the Communist Party of China, Vice Premier of the State Council of the PRC Han Zheng. This was reported by Xinghua news agency with reference to the official representative of the PRC Foreign Ministry Zhao Lijian.
Turkmenistan launched initiatives to expand partnerships within the framework of the EU-Central Asia format
A regular meeting of the heads of the foreign affairs agencies of Central Asia and the European Union in the «EU – Central Asia» format opened on November 22 in Dushanbe, the website of the Ministry of Foreign Affairs of Turkmenistan reports. The meeting was attended by a delegation of our country led by Deputy Foreign Minister Vepa Khadzhiev.
Turkmenistan joined the Agreement on the establishment of the Global Green Growth Institute
President Gurbanguly Berdimuhamedov signed the law of Turkmenistan «On joining the Agreement on the establishment of the Global Green Growth Institute». The document was published on Monday in the Neutral Turkmenistan newspaper.