Iran oil - page 38

EghtesadOnline: Oil declined from the highest close in six weeks as U.S. producers increased drilling and Iran signaled it’s seeking to boost exports after OPEC members agreed to reduce output at a meeting last week.

EghtesadOnline: OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.

EghtesadOnline: Iran is not willing to freeze its oil output at current levels and doesn’t intend to forge an agreement with other major crude producers at talks in Algiers this week, the nation’s oil minister said.

EghtesadOnline: Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.

EghtesadOnline: Austrian Ambassador to Tehran Friedrich Stift said on Tuesday that after a long time halt, Austria began to purchase oil from Iran last week.

eGHTESADoNLINE: suddenly the tables have been turned on Saudi Arabia. The biggest oil exporter has swapped its traditional role as price dove with regional foe Iran, for years OPEC price hawk. The government in Riyadh is now offering a deal -- including its first output cut in eight years -- to boost prices; Tehran is dragging its feet. At the center of the reversal is their contrasting thresholds for enduring economic pain.

EghtesadOnline: Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude.

EghtesadOnline: OPEC members aren’t likely to reach a supply deal in Algiers next week, but an agreement to boost prices could be drawing closer after Saudi Arabia signaled for the first time in two years that it’s willing to cut production.

EghtesadOnline: Iran is committed to building a consensus on stabilizing the oil market between OPEC and non-member countries, the group’s new Secretary-General Mohammed Barkindo said.

EghtesadOnline: Oil Minister Bijan Zanganeh has reported on negotiations between Iran and Russia for oil swap.