Crude
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Crude Prices Fall Over 1%
EghtesadOnline: Oil prices fell more than 1% on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter…
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Q1-3 Economic Growth at 3.3%
EghtesadOnline: A breakup of economic sectors by SCI shows the “industries and mines” and “services” groups registered 5.3% and 2.6% growth respectively, while “agriculture” contracted by 4.3%
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Qeshm Crude Refinery Operational
EghtesadOnline: President Ebrahim Raisi on Friday officially launched Phase 1 of Qeshm ultra-heavy crude oil refinery in southern Hormozgan Province.
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Crude Prices Dip on Storm Impact
EghtesadOnline: Oil prices slipped on Tuesday amid issues that energy outages and flooding in Louisiana after Hurricane Ida will minimize crude demand from refineries just as world producers…
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Oil Prices Dip as Economic Worries Offset Tightening Supply Prospects
EghtesadOnline: Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months…
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Brent Crude Eases, But Stays Near $70
EghtesadOnline: Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the…
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Oil Prices Rise to Highest in a Year
EghtesadOnline: Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains this week, boosted by the continued commitment of producers to hold back crude…
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African Members’ Production Troubles Offset OPEC’s Planned Increase
EghtesadOnline: OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
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Oil Rises on Falling US Crude Stocks
EghtesadOnline: Oil prices rose on Wednesday after hitting their highest in about a year in the previous session, supported by an unexpected draw in US crude stockpiles and an OPEC+ estimate…
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Annual Crude, Petroleum Product Transfer Reaches 128 Billion Liters
EghtesadOnline: An estimated 350 million liters of oil and oil byproducts were supplied daily via pipelines in 2019, indicating a 65% rise over the last 40 years, managing director of the Iranian…
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Faltering Crude Demand Puts Pressure on OPEC+ Production Agreements
EghtesadOnline: It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the organization’s six decades as a dominant force in global oil markets.
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Crude Prices Snap 4-Day Winning Streak
EghtesadOnline: Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut…
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OPEC+ to Pump More Crude
EghtesadOnline: From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.
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When oil became waste: a week of turmoil for crude, and more pain to come
EghtesadOnline: The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in…
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Saudis Deny Claim That Crude Export to US Rose Last Month
EghtesadOnline: A Saudi Arabian oil official on Saturday refuted the conclusion of an analytics firm that the country’s oil exports to the US dramatically increased in the last month.
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Texas Oil at $2 a Barrel Raises Specter of New Negative Prices
EghtesadOnline: Crude prices in America’s oil capital are getting dangerously close to zero.
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Oil Glut Closes Middle East’s Largest Crude Terminal
EghtesadOnline: With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels.
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11 US Senators Want Saudis to Cut Crude Oil Production
EghtesadOnline: Republican US senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from…
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Mexico Says Reached Deal With Trump to Cut Crude Output
EghtesadOnline: The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce…
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Nationwide Oil, Derivatives Supply at 100 Billion Liters
EghtesadOnline: The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director…
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US Penalties ‘Have Not Deterred Much’ of Sino-Iran Oil Trade
EghtesadOnline: Newly announced US sanctions aimed at harming petroleum and petrochemical trade between Iran and China will not substantially impact China's status as the top importer of Iranian…
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Iran's Newly-Discovered Oilfield in Khuzestan Holds 53b Barrels of Crude
EghtesadOnline: A new oil field was identified in southwest Iran that holds 53 billion barrels of crude oil, President Hassan Rouhani said in Yazd on Sunday.
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Crude Output Up at Iran's North Yaran Joint Oilfield
EghtesadOnline: The second electric submersible pump installed in a well in the North Yaran Oilfield in southern Khuzestan Province has reached a stable level, head of the field development project…
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Iran to Start Oil Export From Oman Sea in 2021
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said the National Iranian Oil Company will start exporting crude from the port of Jask in southern Hormozgan Province in 2021.
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US May Extend Iran Oil Sanctions Waivers
EghtesadOnline: The United States is likely to renew waivers to sanctions for most countries buying Iranian crude, including the biggest buyers China and India, in exchange for pledges to cut…
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What to Watch in Commodities: Gold, 13Fs, Crude, Deals and Dogs
EghtesadOnline: Buckle up: commodities are gyrating as equity market turmoil sends ripples through everything from crude to copper. So far on Monday we’re in the green, but there’s much to look…
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Iran’s Light Crude Approaching $70
EghtesadOnline: T he price of Iran’s light crude oil settled up $1.69 a barrel at $69.23 in the week to Jan. 12, in line with a rally that has pushed global prices to their highest levels in…
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Saudi Arabia Exceeds Oil-Production Cap for First Time
EghtesadOnline: Saudi Arabia told OPEC it pumped 10.07 million barrels a day in June, a person with knowledge of the data said, exceeding its production limit for the first time since brokering…
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Iran Eyes New Oil Buyers as Asia Remains Linchpin
EghtesadOnline: Iran continues its quest for new crude buyers, especially in Europe, but its loyal customer base will continue to hinge on countries like India and China, whose demand for Iranian…