Iran’s oil minister says non-OPEC countries agree to cut oil production by 600,000 barrels
TASS- Countries outside OPEC are going to reduce oil production by 600,000 barrels per day from January 1, 2017, Iranian Oil Minister…
Tag Archives: oil prices
Nigeria, Iran should develop capacities for deeper relations – Ambassador Zarchi
Daily Trust| Abdullateef Salau: Daily Trust: Will Iran allow a major cut in oil production to beef up international price as agreed…
Why OPEC deal is a double-edged sword for Iran
Al Monitor| Dr. David Ramin: The Organization of Petroleum Exporting Countries finally agreed to cut oil production at its Nov. 30 meeting in…
Iran regaining its oil power through active diplomacy
Iran Review| Mohammad Khajouei: Following a short period of stagnation, Iran’s oil and gas industry has come to life again and is…
Rouhani stresses need for sustained OPEC consultation for market stability
IRNA – President Hassan Rouhani in a telephone conversation with his Venezuelan counterpart President Nicolas Maduro on Thursday said that continuation of…
OPEC winners: Iran brags it can now sell as much oil as it wants
Oil Price- Iran is now able to sell as much oil as it wants and to any country it “deems appropriate”, the…
200 MPs hail Iran’s successful oil diplomacy
IRNA – 200 members of the Iranian parliament have signed a letter in appreciation of the Iranian oil diplomacy which resulted in…
OPEC deal showed Iran is still key in politics, economy: Expert
SHANA- Ali Bigdeli, a university lecturer, says the deal Organization of the Petroleum Exporting Countries (OPEC) struck in Vienna on Wednesday proved…
OPEC accord welcome in line with Iran’s national interest
Financial Tribune- A prominent economist has welcomed an OPEC accord to cut crude output as a win-win deal that protects Iran’s national…
Minister: Market getting balanced at soaring prices
SHANA- Minister of Petroleum Bijan Zanganeh says oil market is now experiencing equilibrium with the good tiding of higher price stabilization…
Zangeneh: All ready for agreement
SHANA- Minister of Petroleum Bijan Zangeneh said on Wednesday that it seems everybody at OPEC is ready for agreement. “It seems all…
OPEC confounds skeptics, agrees to first oil cuts in 8 years
Bloomberg– OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years. The…
Oil soars as Saudi Arabia and Iran point to OPEC deal
Financial Times– Oil prices soared 8.5 per cent to above $50 a barrel on Wednesday after two of Opec’s most powerful members…
OPEC members meet in Vienna amid market optimism
The Wall Street Journal– OPEC representatives began meeting here this morning in an attempt to finalize a deal that would limit oil…
Iran says to leave oil production at levels decided in Algeria
Reuters– Iran’s oil minister said on Tuesday the country was prepared to leave its oil production at levels that OPEC had agreed…
Iran says oil talks not affected by Trump election victory
Press TV- Iran says the election of Donald Trump as the next president of the United States has had no impacts on…
Putin, Iran’s Rouhani back OPEC bid to stabilise oil prices
AFP- Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani on Monday expressed support for OPEC’s plans to limit the cartel’s…
Iranian oil minister optimistic about OPEC reaching oil output agreement
Sputnik– Iran’s petroleum minister said he was optimistic about OPEC’s chances to reach an oil output agreement. MOSCOW (Sputnik) — The Organization of the…
Zanganeh to meet Algerian energy min.
SHANA-Minister of Petroleum Bijan Zanganeh is to meet Algerian Energy Minister Noureddine Boutarfa shortly on Saturday. The meeting will be on…
OPEC’s last push for oil deal shifts focus to Iran, Russia
Bloomberg| Angelina Rascouet and Grant Smith: OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to…
Iran may reduce its oil output as part of an OPEC deal
IFP- OPEC will debate an oil output cut of 4.0-4.5 percent for all of its members except Libya and Nigeria next week.…
Saudi Arabia’s sway in OPEC limited by resurgent Iraq and Iran
Bloomberg| Anthony Dipaola, Sam Wilkin: Saudi Arabia’s dominance of OPEC isn’t what it once was. Iraq and Iran, shaking off shackles of…
Oil climbs to three-week high as Iran, Iraq signal OPEC accord
Bloomberg| Mark Shenk: Oil climbed to a three-week high as Iran signaled optimism that OPEC will agree to a supply-cut deal and…
Iran optimistic oil prices can rise
AP- Iran’s oil minister is saying $55 per barrel is achievable for crude if both OPEC and non-OPEC producers cooperate. Bijan Zanganeh…
Qatar says asking Iran, Iraq to freeze oil output at current levels
Arabian Business– Qatar’s Energy Minister Mohammed Al Sada said on Thursday that Iran and Iraq were being asked to freeze oil output…
Iran economy passes behind oil price shock: CBI governor
SHANA- Governor of the Central Bank of Iran Valiolah Seif says Iran has successfully passed behind the oil price shock and…
Iranian floating storage tankers exit Persian Gulf
gcaptain| Matthew Wheatley: During the week ending November 11, three vessels, used for floating storage in Iran, left the Persian Gulf for destinations…
Iran surprises OPEC with a further 250,000 Bpd increase
Oil Price| Michael McDonald: President of Iran, Hassan Rouhani, was poised to announce on Sunday that the nation has increased oil production by…
Iran pumps more oil as Saudi minister calls for OPEC output cuts
Bloomberg| Sam Wilkin: Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called…
Iran tells OPEC it raised supply by most since sanctions
Bloomberg| Grant Smith: Iran, which has said it’s exempt from OPEC’s accord to cut production, told the group it raised output by…
Oil prices bounce after OPEC reaffirms plan to cut output
Reuters– Oil prices rose by over 1 percent on Monday, pushed up by a statement from the producers’ club OPEC that it…
Oil falls by most in a week since January on OPEC tensions
Reuters- Oil futures on Friday fell by their biggest weekly percentage decline since January of around 9 percent as signs of tensions…
Why OPEC still can’t get Iran to cut oil production
OPEC members have in recent months repeatedly met to discuss production cuts. The cartel’s members are suffering from the dramatic decline in…
Oil prices rise from one-month lows after OPEC approves strategy
Oil prices edged higher from one-month lows in early trading in Asia on Tuesday after OPEC agreed on a long-term strategy that…
Oil falls as non-OPEC yet to pledge concrete output steps
Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to…
OPEC internal discord thwarts plans for global supply cut
The two-day OPEC meeting in Vienna, attended by several non-OPEC oil producers, has concluded without any substantial result, albeit the participants have…
OPEC officials fail to agree on how to curb oil supplies
OPEC officials meeting in Vienna to work out the details of their plan to reduce oil production failed to reach agreement after…
OPEC is at ‘hardest’ stage in its history, chief Barkindo says
OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.…
Russia-Saudi deal; oil market stability; hopes and fears
TEHRAN, Oct 24 (Shana) — On the sidelines of the G20 Summit, which ended on 5 September 2016 in Hangzhou, China, Russian…
Saudi says oil price down cycle nearing end, to work with Russia to boost market
Saudi oil minister Khalid al-Falih on Sunday said that the current cycle of falling crude prices is close to an end as…