Is This Oil Rally The Start Of Something Much Bigger?
Commodities have rallied in recent months, outperforming equity indexes amid expectations of an economic recovery, easy monetary policy, and rising inflation.
Oil hits highest level in one year
Oil prices hit its highest in a year on Friday, closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies.
Goldman Bullish On Oil, Relief Package
Oil prices will be supported this year by the upcoming massive economic stimulus package in the United States and the low probability of much Iranian oil returning to the global market, according to Goldman Sachs.
The Real Crisis For Oil is Yet To Come
Italian energy major, Eni, described 2020 as a “year of war”, regarding the energy crisis experienced in the face of a global pandemic. But it may be too soon to see the issues faced last year as a thing of the past.
Oil Steadies Near $50 After Surging on Surprise Saudi Output Cut
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia’s pledge to cut an extra 1 million barrels a day of crude output in February and March as a rampant coronavirus leads to more lockdowns.
Steam Unit of Phase 14 of SP Ready for Production
The operator of the phase 14 development project of South Pars Mr. Mohammad Mehdi Tavasoli-Pour said that the steam unit of the phase 14 is ready for production,
National Economy Has Been Politicized
Minister of Finance and Economic Affairs Farhad Dejpasand says national economy is grappling with politicization and the only cure for it is the interaction and professional performance with calmness.
No Permission Needed to Return to Oil Market
Stating that the export of 2.3 million barrels is possible, Minister of Oil Bijan Zanganeh said that Iran does not need permission to return to oil markets.
Oil Prices Towards $50 On OPEC+ Agreement
OPEC+ managed to seal a compromise deal over its oil production policy early next year, presenting a united front of a unanimous decision after days of disagreements.
Gov’t Predicts Oil Sales of Up to 2.3m bpd Next year
Mohammad Baqer Nobakht says Iran is fully ready to export 4.6m bpd of crude oil in case the sanctions are lifted by the U.S. but in the budget bill, it is predicted the country to sell between 1 to 2.3m bpd next year.