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OPEC+ extends oil output cuts to 2024 2nd quarter

The Organization of the Petroleum Exporting Countries (OPEC), along with 10 other nations together known as OPEC Plus agreed on Sunday to extend output cuts of 2.2 million barrels per day into the second quarter of 2024.
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Publish Date:04/March/2024 | 09:11

Iran’s Crude Oil Production Exceeds 3 Million bpd in November: OPEC

According to the latest report released by the secretariat of the Organization of Petroleum Exporting Countries (OPEC), Iran’s crude production volume in November 2023 reached 3.128 million barrels of oil per day (bpd), showing a hike of 7,000 barrels compared to a month earlier.
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Publish Date:16/December/2023 | 13:14

OPEC+ agrees to deepen voluntary oil output cuts

OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
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Publish Date:02/December/2023 | 09:55

Oil Heading for Biggest Weekly Fall in Months

EghtesadOnline: Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic.
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Publish Date:17/July/2021 | 15:19

Brent, WTI Fall on Supply Glut Fears

EghtesadOnline: Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide Covid-19 cases points to a slower pick-up in fuel demand.
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Publish Date:04/August/2020 | 24:30

OPEC Fund Extends Grant to Iran

EghtesadOnline: OPEC Fund for International Development has approved $500,000 in emergency grant to purchase and distribute medical equipment needed for combating COVID-19 in Iran.
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Publish Date:04/April/2020 | 09:16

Zanganeh to Attend OPEC, Non-OPEC Committee Meeting

EghtesadOnline: Iran's Oil Minister Bijan Namdar Zanganeh will attend a meeting of OPEC and non-OPEC committee that monitors output compliance, known as JMMC, in Algeria in September.
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Publish Date:18/August/2018 | 11:02

Zanganeh: OPEC Members Not Allowed to Pump Above Target

EghtesadOnline: Iran’s Oil Minister Bijan Namdar Zanganeh in a letter told his Saudi Arabian counterpart that last month’s OPEC supply pact does not give member countries the right to raise oil production above their targets.
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Publish Date:18/July/2018 | 24:56

Zanganeh: OPEC Members Not Allowed to Pump Above Target

EghtesadOnline: Iran’s Oil Minister Bijan Namdar Zanganeh in a letter told his Saudi Arabian counterpart that last month’s OPEC supply pact does not give member countries the right to raise oil production above their targets.
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Publish Date:18/July/2018 | 24:56

3 OPEC Members to Veto Saudi-Proposed Supply Boost

EghtesadOnline: Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production, which is backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.
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Publish Date:20/June/2018 | 14:31

3 OPEC Members to Veto Saudi-Proposed Supply Boost

EghtesadOnline: Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production, which is backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.
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Publish Date:20/June/2018 | 14:31

NIOC Needs to Maintain Current Output, Exports

EghtesadOnline: Despite the US-Saudi Arabia ploy to coerce OPEC members' to raise output, the National Iranian Oil Company should strongly hold its position to maintain oil production and exports at the current levels.
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Publish Date:20/June/2018 | 14:29

NIOC Needs to Maintain Current Output, Exports

EghtesadOnline: Despite the US-Saudi Arabia ploy to coerce OPEC members' to raise output, the National Iranian Oil Company should strongly hold its position to maintain oil production and exports at the current levels.
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Publish Date:20/June/2018 | 14:29

OPEC Reports Increase in Iran's December Oil Output

EghtesadOnline: Iran's crude production inched up in December as the country maintained output close to levels it has agreed to under a global supply cut deal, OPEC's data showed on Thursday.
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Publish Date:21/January/2018 | 13:29

OPEC Reports Decline in Iran's November Output

EghtesadOnline: Iran produced 3.81 million barrels of crude oil per day in November, down 2,200 barrels compared with the previous month, OPEC's calculations showed on Wednesday.
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Publish Date:15/January/2018 | 06:11