Minister Alparslan Bayraktar responded to reporters’ questions at the Turkish Grand National Assembly ahead of the AK Party group meeting, addressing recent concerns regarding energy supply security.
Current Status of Supply Security
When asked about the potential impact of Middle East developments on Turkey’s energy supply, Minister Bayraktar stated, “There is no issue concerning supply security. At the moment, we foresee no difficulties in either crude oil, petroleum products, or natural gas.” He emphasized that Turkey’s energy purchases are largely sourced outside the Strait of Hormuz region, helping to minimize supply risks. The Minister also highlighted that the situation is being closely monitored by the government.
Oil Prices and Market Outlook
Minister Bayraktar commented on the recent fluctuations in Brent crude oil prices. “There is a significant global concern about supply disruptions, which have indeed occurred, leading to price increases. We hope that the current regional conflicts will end as soon as possible and that the markets will stabilize.” He noted that positive statements from international leaders, including U.S. President Donald Trump, have contributed to some easing in prices. “We anticipate that further positive developments and statements will help return oil prices to normal levels. For this year, especially for the remainder of the year, our forecast was around 60 dollars per barrel. However, the ongoing conflict continues to impact the market,” Bayraktar added.
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