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.
Iran-Europe Business Forum to Be Held in Mid-December
An Adviser to the Trade Promotion Organization of Iran said that the Iran-Europe Business Forum will be held in mid-December to increase Iran's non-oil exports.
Oil climbs higher, hopes of OPEC+
The group, also known as OPEC+, has been cutting production by about 7.7 million barrels per day, with a compliance rate seen at 101% in October, and had planned to increase output by 2 million bpd from January.
60,500 Tons of Cement Exported to Kuwait
The first shipment of 60,500 tons of cement was exported to Kuwait from Iran's Parsian city.
Oil soars 8% on promising vaccine results
Oil surged about 8% on Monday, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine.