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Zanganeh Says Most OPEC Members Back Extending Output Cuts

EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said on Monday that a majority of OPEC members support extending output cuts but a final decision will be taken at their next meeting on Nov. 30.
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Publish Date:21/November/2017 | 07:05

OPEC: Iran's September Oil Output Remains Flat at 3.82mbpd

EghtesadOnline: Iran continues to remain a top performer in a global deal to cut oil supplies as data by OPEC showed the country pump around 3.82 million barrels per day for a second consecutive month in September.
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Publish Date:15/October/2017 | 13:16

Zanganeh: No Pressure on Tehran to Join OPEC Cuts

EghtesadOnline: Nearly a year into the production-cut deal that brought together major OPEC and non-OPEC oil producers, Oil Minister Bijan Namdar Zanganeh said there was no pressure on Iran to join the cuts.
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Publish Date:07/October/2017 | 08:08

Zanganeh Urges OPEC to Address Libya, Nigeria Output

EghtesadOnline: OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said.
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Publish Date:27/September/2017 | 13:23

Iran’s Aug. Oil Price Up, Production Unchanged

EghtesadOnline: Iran's crude oil output last month almost remained unchanged from July, data by OPEC showed on Tuesday, as production cuts by most members of the Organization of Petroleum Exporting Countries outweighed additional supplies, particularly those of Nigeria.
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Publish Date:16/September/2017 | 04:54

OPEC Output Cuts Cloud Iran Outlook

EghtesadOnline: Iran's oil minister said on Monday the country's crude oil output is notably below the levels it should be, but acknowledged that OPEC-led efforts to cut supplies and ease a persistent oversupply may undercut Iran's production plans in the long run.
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Publish Date:30/August/2017 | 13:38

OPEC chief hails Zanganeh’s reappointment

EghtesadOnline: Mahammad Sanusi Barkindo, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), in a letter congratulated Iran’s Petroleum Minister Bijan Zanganeh for his reappointment.
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Publish Date:20/August/2017 | 10:48

Why OPEC's Success Hinges on a Change of Seasons

EghtesadOnline: Global oil consumption ebbs and flows from one season to the next. So the current months of higher demand will be scrutinized closely for signs of whether production cuts from the Organization of Petroleum Exporting Countries and its allies are bearing fruit.
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Publish Date:20/August/2017 | 04:59

OPEC Agreement increases Iran's petrochemical export value

EghtesadOnline: Value of Iran's petrochemical export in the first three months of the year in comparison with the same period of the preceding year has increased by more than 200 million dollars.
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Publish Date:19/August/2017 | 24:26

Saudi, Iraq Oil Ministers Agree to Stronger Oil-Cuts Commitment

EghtesadOnline: OPEC’s two biggest producers agreed to strengthen their commitment to production cuts and maintain balance in world crude markets, Saudi Energy Minister Khalid Al-Falih said after talks with his Iraqi counterpart Jabbar al-Luaibi, according to the kingdom’s state news agency SPA.
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Publish Date:12/August/2017 | 24:51

OPEC Finally Catches a Break

EghtesadOnline: The key sign of OPEC’s success may finally be here. Since the Organization of Petroleum Exporting Countries embarked on its strategy to clear a global glut, analysts from Goldman Sachs Group Inc. to Bank of America Corp. have said that one critical indicator would show the plan is working: the discount on immediate crude would turn into a premium. That condition known as backwardation signals demand is outpacing supply.
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Publish Date:12/August/2017 | 06:24

Iran’s 2016 oil exports up over 77%: OPEC

EghtesadOnline: Iran’s oil exports in 2016 reached 1.921 million barrels per day (bpd), a 77.6 percent rise compared to 2015, according to OPEC’s latest Annual Statistical Bulletin report.
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Publish Date:09/July/2017 | 11:26

Qatar Says Fellow OPEC State U.A.E. Halts Oil Imports in Row

EghtesadOnline: Qatar Petroleum is taking “legal actions” after Abu Dhabi National Oil Co. declared force majeure to halt shipments from Qatar of condensate, a light oil liquid, according to QP’s chief executive officer. An Adnoc official said currently there is no force majeure imposed on Qatari cargoes.
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Publish Date:05/July/2017 | 04:49

Iraq's Crude Exports Hit 2017 High Before OPEC Cuts Extension

EghtesadOnline: Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints to shore up the global market.
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Publish Date:03/June/2017 | 24:47