Baku, Azerbaijan, Dec.18
By Emil Ismayilov - Trend:
Turkey will gain $32.6 million per day as a result of falling oil prices, Haber7 channel said Dec.18 with reference to the Minister of Energy and Natural Resources of Turkey Taner Yildiz.
He said that if oil prices remain at the current level, Turkey will be able to annually gain $11.9 billion on exchange difference.
In 2013, some 18.55 million metric tons of oil were imported in the country in order to meet the needs of refineries and 2.09 million metric tons were provided by domestic production, according to the Energy Market Regulatory Agency of Turkey (EPDK).
Reduction in the cost of oil is due to the fact that the United States, has increased its supply to the world market since spring of 2014, and this takes place against the background of events in Ukraine. At the same time, the United States and Europe lifted international sanctions on oil supplies from Iran. Decline in oil prices accelerated in summer of 2014, and it continues at present.
On Dec.17, the price for a barrel of Brent Dated standard grade oil, produced in the North Sea was $59.96 per barrel.
Edited by CN
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