Brent rose to $107.93 a barrel on fears of a decline in supply
14:53 21.04.2022 12138
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.
Turkmenistan and Kazakhstan intend to strengthen cooperation in the gas industry
The State Concern «Turkmengas» and the Ministry of Energy of Kazakhstan signed a Memorandum of Intent to Strengthen Cooperation in the Gas Industry.
Prospects for cooperation in the fuel and energy sector were discussed with BOTAŞ
On December 6, a meeting was held in Ashgabat between the management of the Turkmengas State Concern and a delegation from Turkey headed by Abdulvahit Fidan, Director General of BOTAŞ. The Turkmen side was led by Maksat Babayev, State Minister of Turkmenistan and Chairman of the Turkmengas State Concern.
Hero-Arkadag: There are great prospects for wide-format cooperation with Afghanistan
with the commissioning of facilities and laying new ones between Turkmenistan and Afghanistan, great prospects for wide-format cooperation open up. This was announced on September 11 at the ceremony of commissioning and starting of the construction of a number of infrastructure facilities with the participation of Afghanistan.
Serdar Berdimuhamedov: the interests of Turkmenistan and the SCO coincide in terms of strategic parameters
The interests of Turkmenistan and the SCO coincide in strategic parameters, said Vice-Chairman of the Cabinet of Ministers of Turkmenistan Serdar Berdimuhamedov, speaking on Thursday on the digital system at the 20th meeting of the Council of Heads of Government of the Shanghai Cooperation Organization member states.
Turkmenistan sent another humanitarian aid to Afghanistan
On Wednesday, September 11, as part of the start of construction of the Serhetabat-Herat gas pipeline and other infrastructure facilities on the Turkmen-Afghan border, humanitarian aid was sent at the expense of the Gurbanguly Berdimuhamedov Charitable Foundation for Assistance to Children in Need of Care.