Oil prices continue to rise, Brent is above $121 a barrel
14:03 08.06.2022 10156
Oil prices continue to rise on traders' expectations that the demand for energy resources on the world market will exceed their supply due to the start of the automobile season in Western countries, as well as the lifting of anti-COVID restrictions in China, Interfax reports.
«Morgan Stanley» analysts Martijn Raths and Amy Sergeant expect the oil market to face a 500,000 bpd deficit in the second half of this year. The «bullish» scenario of experts (playing on the increase in prices) provides for an increase in oil prices to $150 per barrel in the third quarter.
The cost of August futures for Brent oil on the London ICE Futures exchange by 8:20 Moscow time on Wednesday was $121.15 per barrel, which is $0.58 (0.48%) higher than the price at the close of the previous session. As a result of trading on Tuesday, these contracts rose by $1.06 (0.9%) to $120.57 per barrel.
The price of futures for WTI oil for July in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $120.11 per barrel, which is $0.7 (0.59%) higher than the final value of the previous session. The day before, the cost of these contracts increased by $0.91 (0.8%) to $119.41 per barrel, which is the highest since March 8.
Hero-Arkadag and Recep Erdogan noted the rapid development of bilateral cooperation
On Sunday, March 30, a telephone conversation took place between the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Hero-Arkadag Gurbanguly Berdimuhamedov and the President of the Republic of Turkey Recep Tayyip Erdogan, TDH reports.
Over 320 billion cubic meters of Turkmen gas supplied since the start of operation of the Turkmenistan-China gas pipeline, – CNPC
Since the opening of the transnational Turkmenistan-China gas pipeline in 2009, over 320 billion cubic meters of Turkmen gas have been exported to the Celestial Empire. General director of the branch of the National Petroleum Corporation of China (CNPC) Chen Huailong stated this, the Watan news program of the Turkmen television reported.
OPEC will be headed by a representative of Kuwait from August
At an extraordinary meeting of OPEC, the ministers elected a new secretary general of the organization – from August 1, 2022, Haitham Al-Qais from Kuwait was elected for a period of three years, Interfax reported.
Modern Information and Analytical Center for sustainable energy development has been opened in Turkmenistan
Today, March 26, the grand opening of the Information and Analytical Center was held at the Natural Gas Research Institute of the State Concern "Turkmengas". The center is equipped with the latest IT equipment purchased with the support of the European Union project "Green Development of Turkmenistan: Policy Dialogue and Climate Action for 2024-2028", funded by the European Union and the German Foreign Ministry and implemented by GIZ.
Preparations are underway for the 8th meeting of the Turkmen-Romanian Working Commission on Cooperation in the Energy Sector
On March 27, President of Turkmenistan Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via a digital system, the agenda of which included a number of issues of state life, TDH reports.