Iran-Saudi oil rivalry heats up as OPEC seeks to stabilize price
Saudi Arabia and Iran are showing no let up in their market share war, just days after OPEC announced an informal meting…
Tag Archives: oil price
Saudi Arabia to blame for failure of Doha talks, tumbling oil prices
TEHRAN (Tasnim) – Oil prices plummeted on Monday after Saudi Arabian officials walked away from a conference in the Qatari capital, preventing…
Oil sinks after producers fail to agree on freezing output
Crude oil prices have taken a hit from the failure of oil-rich countries to reach an agreement Sunday on freezing production. U.S.…
Iran supports moves to improve oil price: Zangeneh
TEHRAN, Feb. 17 (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Tehran supports any move to stabilize the situation in…
Oil prices jump as Russian, Saudi Arabian oil ministers meet
Crude oil sees an upsurge in prices as Russian Energy Minister Alexander Novak and his Saudi counterpart Ali al-Naimi meet in the…
Saudi market game blamed for $16kb drop in oil exporters’ revenues
TEHRAN, Jan. 31 (Shana) — The $19,000b global trade can diminish by at least 8% by the oil market disturbances of…
Iran’s oil minister says OPEC’s emergency meeting may hurt market
Iran’s oil minister said on Friday any emergency meeting of the Organization of Petroleum Exporting Countries would hurt the crude oil market…
OPEC’s oil basket price drops to $25 a barrel
The average price for a basket of crudes from OPEC producers fell to $25 a barrel on Thursday, the group said, even…
‘Iran-Saudi spat to affect oil in short term’
A senior Iranian official says the fallout from a recent diplomatic row between Iran and Saudi Arabia will affect the oil market…
Iran not to offer further oil discounts: Official
Tehran, Jan 6, IRNA – Iran would not offer further discounts to draw customers into its oil market, Mohsen Qamsari, director general…
Declining oil price is a golden opportunity: Vice speaker
TEHRAN, Jan. 6 (Shana) – Majlis Vice-Speaker Mohammad-Hassan Abutorabifard said on Wednesday that the current downward trend in the price of crude…
2015 energy recap
Tehran, Dec 31, IRNA – A mixed bag for the global and domestic energy industry, 2015 was marred by a Saudi Arabia…
Minister says price for each barrel of oil fixed at $40 in next year budget bill
Tehran, Dec 29, IRNA – Minister of Petroleum Bijan Zangeneh said on Monday that the price for each barrel of oil is…
Iran veep calls for cooperation to boost oil prices
TEHRAN, Dec. 19 (Shana) — Iran’s vice-president has underlined the significance of cooperation between oil-producers to help boost oil prices in the…
Oil nears 11-year low on oversupply, strong dollar
Oil slipped toward an 11-year low on Thursday, dented further by a seemingly relentless build in oversupply, and as the dollar strengthened…
Oil drops to new 7-year lows
The international prices of oil have hit fresh 7-year lows in what appears to be a result of growing oversupply concerns. US…
Iran eyes 120mt/y petchem output by 2021
TEHRAN Nov. 10 (Shana) – A senior Iranian petrochemical official said the country defined dozens of major projects in a push to…
Iran minister blasts ‘certain OPEC members’
Iran’s Minister of Petroleum Bijan Zangeneh says some countries in OPEC are trying to harm other members by driving crude oil prices…
OPEC head does not predict further drop in oil prices
OPEC Secretary General Abdallah Salem El-Badri said on Thursday that he does not expect any future drops in oil prices. MOSCOW (Sputnik)…
Return of Iran’s oil to global markets to enhance OPEC position, says report
TEHRAN (ISNA)- A report released by a leading local investment company, says that a key implication of the recent nuclear achievement will…
4 key questions about Iran’s influence on global oil prices
1. Will the agreement with Iran affect global oil prices? The easy answer is yes. The more difficult response involves pinpointing when…
Zangeneh warns of oil investment drought
Minister of Petroleum Bijan Zangeneh says Iran is not satisfied with current oil prices after OPEC decided to maintain production levels unchanged…
OPEC price hawk Iran joins others seeing $75 oil as “fair”
(Reuters) – Iranian Oil Minister Bijan Zanganeh said on Friday that most members of OPEC agree $75 a barrel is a “fair”…
Iran says OPEC unlikely to change output ceiling: Mehr news agency
OPEC is unlikely to change its production ceiling when the group meets in June, Iran’s Oil Minister Bijan Zanganeh said on Sunday,…
Oil price to reach $80 by 2017 – Iranian oil minister
Iran hopes its crude oil exports will be back to the pre-sanctions level of 2.5 million barrels per day (bpd) and the…
US-Iran military confrontation will lead to catastrophic world war: Analyst
A military conflict between the United States and Iran will lead to a “catastrophic” world war and will create a “new severe…
Never mind oil, Iran’s about to shake the world pistachio market
Iran is ready to return to the global commodities market, flooding it with fresh supplies and risking a slump in prices. Oil?…
Iran scraps cash handouts to its wealthiest to ease burden
TEHRAN, Iran (AP) — Iran has scrapped the country’s wealthiest citizens off a list of people receiving monthly cash handouts in a…
Earnings weigh on shares, oil rises on Iran ship seizure
(Reuters) – Disappointing corporate earnings handed European shares their biggest daily decline in over a week on Tuesday and left U.S. stocks…
OPEC and Iran market share
TEHRAN April 25(Shana)–Cutting oil production by 5 percent by members of OPEC and rising seasonal demand are the two factors that could…
Iran wants OPEC to pave way for its extra oil production when sanctions lifted
(Reuters) – Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions…
Iran urges OPEC cohesion
TEHRAN April 20(Shana)–Iran’s foreign minister has called for cohesion among OPEC member states to help shore up oil prices. “Coordination between Iran…
Current oil prices harm world market stability
TEHRAN April 20 (Shana)–Iran’s President Hassan Rouhani has said that the current oil prices are harming world market stability. “Today’s oil price…
Oil down as Iran races for Tuesday deadline on nuclear deal
NEW YORK, March 30 (Reuters) – Oil settled down for a second straight session on Monday as Iran and six world powers…
Iran crude price down by more than 3 dollars
Tehran, March 29, IRNA – Iran sold light and heavy crude oil at $49.99 and $47.49 per barrel in the week to…
Oil dives 5 percent as worries about Iran talks trump Yemen
(Reuters) – Oil tumbled 5 percent on Friday, erasing the previous session’s gains, as Yemen’s conflict looked less likely to disrupt Middle…
Iran nuclear deal to affect oil prices
Tehran, March 23, IRNA – A senior Iranian lawmaker has said that a possible nuclear deal between Iran and six world powers…
Oil Minister: Iran will retain OPEC quota very soon
Tehran, March 18, IRNA – Oil Minister Bijan Namdar Zanganeh said on Wednesday that Iran will retain its OPEC quota very soon…
Oil touches six-year low as Iran talks weigh
Fears of a supply glut popped a rebound in the price of oil on Tuesday, with comments from Iran about higher production…
Petchem sector to compensate oil price fall
TEHRAN March 11(Shana)–The head of Iran’s National Petrochemical Company (NPC) has said that petrochemical products can compensate for losses from oil price…