Romania imported a significant amount of crude oil and natural gas during 2021.
The total amount of 2.831 billion euros represents an increase of 52.6% compared to the first 10 months of the previous year, according to data centralized by the National Institute of Statistics.
On the other hand, exports in the mentioned period amounted to 168 million euros, up 741.7%, Romania thus registering a deficit of 2.663 billion euros for this category of products, reports Agerpres.
In the first ten months of 2021, Romania’s crude oil production was over 2.677 million tons, down 116,300 tons or -4.2% compared to the same period in 2020.
Also, the production of usable natural gas amounted to 7.428 billion cubic meters or +25.9 million cubic meters, respectively + 0.3%.
The price of oil is volatile
In other words, oil prices have reached their highest levels in seven years as geopolitical tensions continue to raise supply concerns.
Brent crude oil futures rose $ 1.91, or 2.1 percent, to $ 91.25 a barrel, hitting $ 91.41, the highest level since October 2014.
US West Texas Intermediate crude futures rose $ 1.83, or 2.11%, to $ 88.44 a barrel. WTI also hit a new seven-year high of $ 88.76 earlier in Friday’s session.
Oil prices continue to receive support due to concerns about the crisis in Ukraine that could disrupt energy markets. US President Joe Biden and his European counterpart, Ursula von der Leyen, pledged on Friday to co-operate to ensure the energy security of Europe and Ukraine amid a stalemate over the gathering of Russian troops on the border with Ukraine.
The market is focused on a February 2 meeting of the Organization of the Petroleum Exporting Countries and its Russian-led allies, collectively known as OPEC +.