Oil prices fall on prospects of increased supplies

Oil prices fell on Tuesday morning, as investors weighed the prospects for ample supply in the crude market, Report informs referring to trading data.

The price of April Brent crude futures fell 0.69% from the previous close to $64.32 per barrel, while March WTI futures fell 0.64% to $60.27.

Markets are expecting increased crude supplies following recent news from Kazakhstan's Tengizchevroil and the US-based Chevron.

Yesterday, the press service of operator Tengizchevroil announced the resumption of oil production at the Tengiz field, which had been interrupted following an accident.

Other News

Azeri Light crude price rises to $70.7 per barrel on world markets 07 February, 2026 / 11:13
European Commission clears acquisition of SOCAR Terminal by STEAS and TISS 06 February, 2026 / 19:30
BP contributes to promotion of two-century-old magnificent heritage of Mirza Gadim Iravani 06 February, 2026 / 16:45
Gas prices in Europe rise 1.9% 06 February, 2026 / 12:51
Azerbaijan summarizes year of implementing green energy space goal 06 February, 2026 / 12:33
Azeri Light crude drops to $69.77 per barrel 06 February, 2026 / 09:52
Fitch assesses SOCAR ratings alongside 10 of world's largest oil and gas companies 05 February, 2026 / 20:16
Azerbaijan, World Bank discuss gas supply reforms and tariffs 05 February, 2026 / 13:04
Rystad Energy: Geopolitics losing long-term influence on oil prices 05 February, 2026 / 11:10
SOCAR AQS participates in tenders in Iraq 05 February, 2026 / 11:05
SOCAR AQS to drill eight wells in Türkiye over two years 05 February, 2026 / 10:52
World oil prices fall over 2% 05 February, 2026 / 10:41
SOCAR Capital wins international award for green bond issuance 04 February, 2026 / 20:17
MPD technology planned for use at Azerbaijan's Gunashli field 04 February, 2026 / 17:07
SOCAR: Security measures at production facilities tightened amid adverse weather 04 February, 2026 / 11:53
BP talks about volume of investments in projects in Azerbaijan 04 February, 2026 / 11:05
SOCAR exploring alternative technologies to make mature fields more profitable 04 February, 2026 / 11:01
Gas reserves in European storage facilities fall below 40% 04 February, 2026 / 10:55
SOCAR switching to more cost-effective solutions as well production rates decline 04 February, 2026 / 10:44
SOCAR reveals drilling plans for 2026 04 February, 2026 / 10:15