Investor Presentaiton
Brent Crude Prices
+ OPEC and its allies increasing output cuts
+ Impact of Iran & Venezuela sanctions
+ Escalating regional tension
$/bbl
86
-
-
Concerns on global economic development
China's purchases to slow as approaching LT reserve targets
Coronavirus related demand drop
80
88
74
68
62
56
50
44
38
32
26
30.7
20
20
2016 ave.
43.7 $/bbl
OPEC
i Production
Cut Decision
Jan-16
Mar-16
May-16
Jul-16
Sep-16
data as of 11 Feb 2020
February 20
Investor Presentation
Refining Market
Nov-16
I
I
I
Jan-17
2017 ave.
54.3 $/bbl
2018 ave.
71.0 $/bbl
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
www.tupras.com.tr
Mar-18
May-18
Jul-18
Sep-18
Nov-18
81.2
2019 ave.
64.3 $/bbl
67.0
I
I
I
i All waivers
Iran
I
iSanctions
|
· Iran
I
expired on
i Drone
Attack to
i Saudi Fields
I
I
I
I
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
53.8
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