Minister of Energy and Natural Resources Alparslan Bayraktar addressed reporters at the Turkish Grand National Assembly prior to the AK Party group meeting, responding to questions on current developments impacting the energy sector.
Supply Security Unaffected by Regional Developments
When asked about the potential impact of ongoing Middle East events on Turkey’s energy supply, Bayraktar stated, “There is no issue regarding supply security. We do not anticipate any problems with either oil, oil products, or natural gas at present.” He further emphasized that a significant portion of Turkey’s energy imports does not transit the Strait of Hormuz, reducing the country’s exposure to regional disruptions. The Minister also underlined their ongoing vigilance in monitoring the situation.
Global Oil Prices and Market Expectations
Addressing recent fluctuations in Brent crude oil prices, Bayraktar noted, “There is real concern about supply cuts worldwide, and indeed, supply interruptions are present. This explains the current price increases. We hope the conflict in the region will end soon and that global markets will return to normal.”
International Reactions and Price Projections
Bayraktar highlighted that statements from officials such as US President Donald Trump have led to a slight easing in prices, reflecting expectations that supply may soon stabilize. “We hope such positive announcements and developments will help return oil prices to normal levels. For this year, particularly for the remaining months, our forecast was around 60 dollars per barrel, but of course, the ongoing conflict brings uncertainty,” Bayraktar explained.
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