2026-4-8 20:01 |
The U.S. Energy Information Administration (EIA) has released its forecast for oil and other liquid hydrocarbon production in the Middle East.
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The report highlights a sharp shift in global oil market dynamics tied to the ongoing Iran conflict. Before the escalation, the EIA said it viewed the market as oversupplied, with inventories rising quickly and prices trending downward.
Brent crude oil prices peaked in March and are expected to rise further in mid-2026 before gradually declining. The outlook is shaped by ongoing production disruptions and the uncertainty surrounding the Middle East conflict. Prices are projected to decrease over the following years.
A new substation will be built in Azerbaijan's Absheron district, as reported by Trend. Azerishig OJSC has already started preparations for the project. The upcoming work will involve constructing a 35/6 kV substation to replace the existing distribution unit in Novkhani settlement.
Azerbaijan's SOCAR CAPE LLC reported export revenues for the first two months of 2026, according to the Export Review by the Center for Analysis of Economic Reforms and Communication. In comparison, the company’s revenue data for the same period last year was not disclosed.
SOCAR Polymer leads the growth in Azerbaijan's non-oil sector exports, showing significant year-on-year improvement in early 2026.
SOCAR's export operations in early 2026 saw a significant decline compared to the previous year, with non-oil sector exports led by SOCAR Polymer and several other state-owned companies.