Oil refineries of Belarus uploaded nearly 100%. As reported by “Interfax-West”, about this on air of the Belarusian television said the first Deputy Prime Minister Dmitry Steep.
According to him, Minsk “operational use” the decline in international oil prices to “recover all the reserves and all capacities”.
He added that the workload of Belarusian oil refineries “near 100%”.
On 20 April the price of may futures WTI for the first time in the history became negative (fall in the value of contracts with maturity in June and later was a minor). According to the Agency Reuters, 20 APR quotations fell to minus $40 per barrel. It also triggered the collapse of prices on the European spot market (prisoners in this market contracts are executed immediately). The estimated price of the Russian benchmark Urals oil fell to minus $3 per barrel of North sea benchmark Brent crude to minus us $3.5.
The rapid fall of oil prices caused a record drop in demand for hydrocarbons because of the pandemic coronavirus, and the ensuing economic crisis and fears of traders that storage facilities will soon be filled.
Thus progress in early April, the agreement OPEC+ on the reduction of oil production to 9.7 million barrels per day in may and June, which is about 10% of the total placed on the market of raw materials, strong impact on the stock did not have. As the Agency Reuters, this is not enough to compensate for the overabundance of raw materials on the market.