OPEC expects drop in oil demand in 2020 to 90.7 million b / s with growth to 97.7 million b / s in 2021

19:42 15.07.2020 7563

https://www.oilgas.gov.tm/storage/posts/272/original-15f0ea44b5b734.jpeg

The forecast for oil demand in 2020 has been increased by 100 thousand barrels per day - up to 90.7 million bpd, which means a decrease of 8.9 million bpd compared to 2019, INTERFAX reports with reference to the OPEC monthly report. At the same time, in 2021, the consumption of liquid hydrocarbons will increase by 7 million b / s - up to 97.7 million b / s, although it will remain below the level preceding the COVID-19 pandemic, the cartel said. Preliminary data showed that in May general commercial reserves OECD oil prices grew for the third month in a row - by 29.9 million barrels compared to April, to 3.167 billion barrels, OPEC writes. This figure was 233.2 million barrels higher than the same period last year, and 209.5 million barrels above the five-year average. At the same time, oil reserves grew by 9.7 million barrels, and oil products - by 20.2 million barrels compared to the previous month. According to preliminary data for June, total commercial oil reserves in the United States grew by 31.7 million barrels per month and amounted to 1.462 billion barrels. This figure is 158 million barrels higher than a year ago, and 173 million barrels above the average for the last five years. Oil and petroleum product inventories in the United States grew by 6.8 million barrels and 24.9 million barrels, respectively.

Other articles
167e794de9b93f.png
Turkmenistan declares March 31 a day off in connection with the holiday of Oraza Bayramy

The President of Turkmenistan Serdar Berdimuhamedov signed a Decree on the celebration of Oraza Bayramy on March 30, in connection with which the day off was moved to March 31. The corresponding document was published in the central media of our country.


161d7e6c4b374f.jpeg
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.


167e40ac00528d.jpg
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.


167ea46df63a9a.jpg
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.


161dd22684609e.jpeg
Refined products were in the lead in the auctions

At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, 47 transactions were registered last week.