Baku 9° C
Excess global oil reserves drop by over 2-fold
Energy
- 25 December, 2017
- 08:46
Add Report.az to preferred Google sources
Stay up to date with the top news!
Baku. 25 December. REPORT.AZ/ Global oil reserves decreased by 200 mln barrels over the past year and amounted to 140 mln barrels.
Report informs, Russia's Energy Minister Alexander Novak said in an interview with the Russia 24 TV channel.
"Today, we are seeing the right decision when analyzing the results of agreement on production cut. Oil market stabilized, prices rup by 30% compared to last year. We observe that volatility is decreasing and investments return to the sector. Investments have increased by 5% for the first time in last 3 years. This also means that the oil industry is restored after a long crisis”, Novak said.
Author
İzafi qlobal neft ehtiyatları 2 dəfədən çox azalıb
Излишки мировых запасов нефти сократились более чем вдвое
Latest News
20:33
SOCAR to build polyethylene production complex with capacity of 850,000 tons per year in Türkiye's Aliaga
Energy
20:15
UK to invest £90M in drones, sensors, AI systems
Other countries
19:55
Gulf states to open headquarters for Unified Military Command in Kuwait
Other countries
19:37
Photo
President Ilham Aliyev arrives in Türkiye for visit
Foreign policy
19:18
Israeli FM Sa'ar to also serve as interior minister, Likud says
Other countries
18:58
Two tankers catch fire in Hormuz - IRGC Navy
Other countries
18:39
BT cools on Starlink satellite tie-up after Elon Musk Ukraine controversy
Other countries
18:20
Photo
COP31 hosts discussions focused on strengthening role of healthcare in global climate agenda
Ecology
18:02
Bulgaria declares national mourning after Trakia highway crashes kill 12 - Update
Other countries