TEHRAN (FNA)- Venezuelan Oil Minister Asdrubal Chavez said that Iran's stance in the last meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna serves the interests of all the member states. Speaking in a meeting with Iranian Oil Minister Bijan Namdar Zanganeh in Tehran on Monday, Chavez endorsed Iran's stance at OPEC meeting ...

Saudi Arabia, the biggest oil producer of the Organization of the Petroleum Exporting Countries (OPEC), reportedly prefers crude prices to stabilize at around USD 60 a barrel. Citing sources familiar with the situation, the Wall Street Journal reported Wednesday that Riyadh would not make any effort to slash oil supply in the near future even if crude ...

Berlin, Dec 3, IRNA -- Saudi Arabia has basically declared war on the booming US shale oil industry after convincing fellow OPEC members to maintain its current oil output, said Princeton University researcher. Hossein Mousavian. Talking to IRNA, Mousavian said many US and European energy experts believe the Saudi action was aimed at the US and not ...

Tehran, Dec 2, IRNA -- The shock therapy of a steep drop in crude prices, which have fallen to a five-year low, is no solution for OPECs loss of market share to U.S. shale producers, Irans Oil Minister Bijan Namdar Zanganeh said. U.S. benchmark West Texas Intermediate crude declined 10 percent after the Organization of Petroleum Exporting Countries ...

Shargh studies how the Iranian economy can effectively respond to an OPEC decision not to cut the production quotas of its members. A recent meeting of the Organization of the Petroleum Exporting Countries (OPEC) failed to lower its crude output. The reason is not simple to explain. Whether the decision was the result of unknown aspects of political ...

[caption id="attachment_133534" align="alignright" width="137"] Arab stock markets plummeted on November 30, 2014, after a decision by OPEC to maintain crude output in an oversupplied market.[/caption] Share prices in Persian Gulf Arab states have slumped following a decision by the Organization of the Petroleum Exporting Countries (OPEC) to maintain ...

DUBAI(Reuters) - OPEC's decision to retain its production ceiling is not beneficial to all OPEC member states, but Iran has refrained from protesting to maintain group solidarity, Iranian oil ministry news agency Shana reported the oil minister as saying. "I don't think that this decision is beneficial to all OPEC member countries because some countries ...

IFP has taken a look at the front pages of newspapers on Saturday and picked headlines from 16 of them. IFP has simply translated the headlines and does not vouch for their accuracy. Iranian newspapers on Saturday were dominated by the Supreme Leaders speech at a meeting with Basij volunteers on nuclear talks in which he supported the countrys negotiating ...

TEHRAN Nov 28 (Shana)--The decision by the Organization of the Petroleum Exporting Countries (OPEC) to maintain its oil output at the current level has sent prices plunging in Asian markets, causing oil-linked currencies to tumble as well. Oil prices continued their slide on Friday with Brent crude for next January delivery skidding 1.3 cents to $71....

TEHRAN Nov 27 (Shana)--Shale oil producers have waged a war in world oil markets whose objective is to gain more share in the market. To this end, American companies have laid a trap by resorting to dumping, a situation that OPEC members should avoid to be caught in. While OPECs 166th Ministerial Meeting is set to be held on November 27 in Vienna,...

TEHRAN (FNA)- Iranian Oil Minister Bijan Namdar Zanganeh and his Saudi counterpart Ali Ibrahim al-Naimi are likely to have meeting in Vienna on Thursday before the upcoming 166th Annual Meeting of the Organization of Petroleum Exporting Countries (OPEC) tomorrow, reports said. The report by a number of news media outlets said that the meeting ...

TEHRAN Nov 15 (Shana)--OPECs meeting is approaching when twelve members of the organization are going to attend 166th ministerial meeting in Vienna on 27th November. The meeting is taking place at a time when the members are far from united about how to respond to falling oil prices, a rift that, some observers believe, has deepened due to lack of ...