Iranian heavy oil price increased $3.74 in September to register a 5.3-percent rise compared to the previous month, according to OPEC’s latest monthly report published on Wednesday.
New Oil Minister Javad Owji says the country would move to regain its position as an influential member of the Organization of Petroleum Exporting Countries (OPEC).
Iran produced 2.485 million barrels per day (bpd) of crude oil in July, registering a 28 percent increase compared to the same month in 2020, according to OPEC’s latest monthly report published on August 12.
New Iranian President Seyed Ebrahim Raisi hosted a meeting with the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo in Tehran on Friday, Shana reported.
Oil Minister Bijan Namdar Zanganeh says rising international oil prices won’t benefit producers in the long-run as he warns against impacts of the prices on the oil production economy.
The Organization of Petroleum Exporting Countries (OPEC) in its 181st meeting in Vienna on Thursday paid tribute to Iranian Oil Minister Bijan Namdar Zanganeh for his long-lasting contribution to the organization and the oil market.
Oil Minister Bijan Zangeneh said after the 181st Meeting of the OPEC Conference that the main responsibility of the next petroleum minister is to help Iran return to the oil market and get our lost market share back which was caused by the sanctions.
Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported.
Despite optimism from Chinese data overnight, forecasts for lower OPEC+ output, and a weaker dollar, oil prices are tumbling this morning with WTI back below $64.50...
Speculators have been selling oil over the past two weeks as prices continue higher and the appetite for profit-taking increases.