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Zangeneh calls for revival of quota system in OPEC

EghtesadOnline: Minister of Petroleum Bijan Zangeneh on Tuesday called for revival of the quota system of the Organization of Petroleum Exporting Countries, saying that there is no alternative to the quota system.
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Publish Date:28/September/2016 | 13:27

Saudi Oil Minister Signals He’s Open to Iran Compromise at OPEC

EghtesadOnline: Saudi Arabia gave the strongest indication yet it’s ready to compromise with regional rival Iran, potentially paving the way for the first limit on oil production in two years, although a deal is unlikely until OPEC’s next meeting in November.
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Publish Date:28/September/2016 | 07:19

Zangeneh: Algeria meeting to be consultative

EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Monday that current situation of oil market is detrimental to both producers and consumers in medium and long term and that the Algerian meeting will be consultative.
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Publish Date:27/September/2016 | 14:50

No sign of oil freeze at home as Russia meets OPEC

EghtesadOnline: As Russian energy minister Alexander Novak flies to Algeria this week for talks with OPEC on output cuts, developments at home indicate non-OPEC Russia is not preparing for any coordinated production action.
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Publish Date:27/September/2016 | 04:46

Oil Edges Higher as Saudi Offer Opens Door to Future OPEC Deal

EghtesadOnline: Oil pared its biggest drop in more than two months as Saudi Arabia’s offer to cut output opens the door to a future OPEC deal, even as it doesn’t expect an agreement this week when members of the group meet.
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Publish Date:26/September/2016 | 08:34

Ecuador hopes OPEC will reach agreement in Algeria, warns of risks

EghtesadOnline: Ecuadorean President Rafael Correa said on Saturday he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of "serious risks" for the group if they do reach a deal.
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Publish Date:25/September/2016 | 03:03

U.A.E. Warns OPEC Against Any Hasty Decision on Oil in Algiers

EghtesadOnline: OPEC must find a “sustainable” way to stabilize oil markets in any agreement its members may reach when they meet next week in Algeria, the United Arab Emirates’ energy minister said.
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Publish Date:22/September/2016 | 15:43

India's Iran oil imports surge to highest in at least 15 yrs in Aug: source

EghtesadOnline: India's daily oil imports from Iran in August surged to their highest in at least 15 years as the OPEC producer boosted its shipments to recoup market share ceded to rivals Saudi Arabia and Iraq under pressure from economic sanctions, India's Financial Express paper reported on September 16.
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Publish Date:17/September/2016 | 19:23

OPEC chief due in Tehran today

EghtesadOnline: Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo has planned a Tehran visit that will take place today on Monday.
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Publish Date:05/September/2016 | 24:41

Russia Rules Out Coordination With OPEC

EghtesadOnline: Russian Energy Minister Alexander Novak said in a statement he has ruled out possible coordination with OPEC on oil output after a failed attempt to jointly maintain production levels earlier this year.
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Publish Date:23/July/2016 | 20:02

Tehran Seeks Enhanced Collaboration With OPEC

EghtesadOnline: Iranian President Ebrahim Raisi described constructive interaction among the member states of the Organization of the Petroleum Exporting Countries as a crucial factor in the organization’s success.
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Publish Date:29/May/2023 | 22:14

OPEC+ Output Cut Ease Unlikely to Unbalance Int’l Oil Markets

EghtesadOnline: The OPEC+ decision Dec. 3 to ease its output cut by an initial 500,000 bpd in January is unlikely to unbalance oil markets amid hopes for oil demand recovery from the early introduction of coronavirus vaccines, Petroleum Association of Japan President Tsutomu Sugimori said.
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Publish Date:08/December/2020 | 16:20

Goldman Voices Concern About OPEC+ Future

EghtesadOnline: As the OPEC+ group’s decision on oil production cuts nears, there are renewed concerns about the future of the organization as it tries to rebalance the market while securing higher revenue and market share in the medium-term, Goldman Sachs, an American multinational investment bank and financial services company headquartered in New York City, said in a note.
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Publish Date:25/November/2020 | 16:44

OPEC+ Panel Sees Weaker Oil Demand in 2021

EghtesadOnline: OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year.
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Publish Date:18/November/2020 | 14:40

Oil Climbs Higher on China, Japan Rebound

EghtesadOnline: Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns over weaker fuel demand due to growing coronavirus infections and higher production in Libya.
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Publish Date:17/November/2020 | 15:06

OPEC Would Wary of Strains Under Biden

EghtesadOnline: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US president, sources close to the organization said, and would miss the outgoing president, Donald Trump, who went from criticizing the group to helping bring about a record oil output cut.
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Publish Date:09/November/2020 | 14:05

OPEC’s Barkindo: Rising Infections May Delay Oil Market Recovery

EghtesadOnline: OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market.
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Publish Date:28/October/2020 | 13:43