Energy crisis

Energy import bill up 131 pct in June 2021

Turkey's energy import bill increased by 131 percent to $3.63 billion in June this year compared to the same month last year, according to data released by the Turkish Statistical Institute (TÜİK) on July 30.


The overall energy import bill soared last month due to an increase in the country's industrial production.

Shares skid after oil prices dip into negative territory

Asian shares skidded on April 21 after U.S. oil futures plunged below zero with storage for crude nearly full as demand collapses due to the pandemic.

Shares fell in Tokyo, Hong Kong and Shanghai and New York stock futures retreated after the S&P 500 sank 1.8% overnight, giving up some big gains from last week.

OPEC, allies agree to lower oil production by 10 mln bpd

OPEC and its allies agreed early on April 10 to lower their collective crude oil production by 10 million barrels per day (bpd) until the end of the second quarter of 2020.

Saudi Arabia-led OPEC and Russia-led non-OPEC oil-producing nations started their 9th (Extraordinary) OPEC and non-OPEC ministerial meeting via webinar on April 9 at 1445GMT.

Oil prices at 17-year lows as virus ravages world

Oil prices extended losses in Asian trade on March 30 and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war.    

U.S. benchmark West Texas Intermediate fell 5.3 percent to trade at $20 a barrel, while international benchmark Brent crude was off 6.5 percent at $23.