Tag Archives: OPEC

India’s Feb Iran oil imports fall to lowest since July 2013

The MRPL refinery in the Indian state of Mangalore. (File photo)

NEW DELHI, March 2 (Reuters) - India slashed its Iranian oil imports in February to a 1-1/2-year low to keep annual volumes from Tehran near the previous fiscal year’s levels and within the limits allowed under a deal aimed at curtailing the OPEC nation’s nuclear programme. India, Iran’s top client after China, shipped in about 102,200 barrels per day (bpd) of crude and ... Read More »

Iran, Iraq follow Saudis in fight for Asian oil market

Iran earned more than $2.3 billion from sales of oil products in the 10 months to January.

Dubai: Iraq and Iran cut their prices for March crude oil deliveries to Asia to the lowest in more than a decade, signalling the battle for a share of Opec’s largest market is intensifying. Iraq’s Basrah Light crude will sell at $4.10 (Dh14.68) a barrel below Middle East benchmarks, the lowest since at least August 2003, the Oil Marketing Co. ... Read More »

Iran aims to compete with Saudi Arabia in Asian oil market

Director of international affairs at National Iranian Oil Company Mohsen Qamsari

Iran is planning to drop its oil price in the Asian markets with an aim of competing with Saudi Arabia and other producers to increase its market share. Amid global decline in oil prices, oil exporting countries are offering discounts in order to maintain the market share in the global arena. Iran is planning to drop its oil price in the Asian markets with an aim of competing ... Read More »

Iran hoping for relief from OPEC

OPEC figures show drops in output and price of Iranian oil for January 2015.

Tehran, Jan 31, IRNA — The Organization of Petroleum Exporting Countries has no immediate plans for cutting its crude output, partly because they intend to rattle the US oil shale producers who are shaking up the industry.   According to a statement released by Iran’s Oil Minister Bijan Namdar Zanganeh, the country is apparently strong enough to weather an even deeper ... Read More »

Iran sees ‘No threat’ from oil at $25 if prices keep falling

zangane3

OPEC has no immediate plan to cut its output target for crude, and Iran is strong enough to withstand a deeper slump in prices even if the country must sell at $25 a barrel, Oil Minister Bijan Namdar Zanganeh said. “If the oil prices drop to $25 a barrel, there will yet again be no threat posed to Iran’s oil industry,” Zanganeh ... Read More »

MP: Oil price drop a new type of sanctions against Iran

Hamid Rasaei

Mashad, Dec 31, IRNA – A member of parliament (majlis) said oil price drop is a new type of sanctions against Iran.   Hamid Rasaei told IRNA on Wednesday in Mashad it is quite obvious that oil price drop is in direction of imposing pressure against Iran to achieve illegitimate goals in nuclear talks. The MP added although western countries did ... Read More »

Rafsanjani demands OPEC cooperation to prevent further drop in oil prices

Chairman of Iran’s Expediency Council Ayatollah Akbar Hashemi Rafsanjani

TEHRAN (FNA)- Chairman of Iran’s Expediency Council Akbar Hashemi Rafsanjani called on the OPEC member-states to stop the falling crude prices in the international markets through unity against consumers’ excessive demands. “OPEC is an organization for supporting oil producers and it should not be influenced by the excessive demands of oil consumers,” Rafsanjani said in a meeting with Algerian Ambassador ... Read More »

Iran’s window of opportunity

file photo shows Iran flag.

The presidents of Iran and Russia have both recently been critical – as the collapse in the oil market benchmark price has continued to and even through US$60 per barrel – of what is perceived as being economic warfare conducted through the oil market by the Saudis and the United States. But sometimes all is not quite as it appears. ... Read More »

Iran daily: Larijani — “We will not forget those in conspiracy of lower oil prices”

assad larijani

Many of the statements from Iran’s Speaker of Parliament Ali Larijani during his Sunday visit with Syria’s President Assad were the expected PR line: a joint stand with the Assad regime against “terrorism” and “extremism”, denunciation of intervention by the US and its Western allies, and hailing of Syria’s frontline role in resistance against Israel. Amid the rhetoric, however, Larijani offered ... Read More »

Saudi Arabia’s oil war against Iran and Russia

oil price

This week, oil fell through the price floor of $60 a barrel and gas at my local filling station was $2.26 a gallon. That’s great news for commuters and almost every business, but wonderfully bad news for our ugliest enemies. If oil prices remain low through next year, the effect on rogue governments, from the Russian Federation to Venezuela, will ... Read More »