Thursday, 22 April , 2021
OPEC Archives - Iran News Daily
Oil Prices Retreat As Biden Plans Major Federal Tax Hike 16 Mar 2021

Oil Prices Retreat As Biden Plans Major Federal Tax Hike

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...

Oil Prices Drop As Traders Take Profits 10 Mar 2021

Oil Prices Drop As Traders Take Profits

Speculators have been selling oil over the past two weeks as prices continue higher and the appetite for profit-taking increases.

OPEC+ Surprise Sends Oil Past Gulf Budget-Balancing Levels 08 Mar 2021

OPEC+ Surprise Sends Oil Past Gulf Budget-Balancing Levels

Oil soared past fiscal breakeven prices for the Middle East’s four biggest producers after OPEC+ kept output largely unchanged and an attack on a highly protected Saudi Arabian oil facility.

Oil extends gains on OPEC+ supply restraint 06 Mar 2021

Oil extends gains on OPEC+ supply restraint

Oil prices rose early on Friday, adding to big gains overnight after OPEC and its allies agreed to not increase supply in April as they await a more solid recovery in demand from the coronavirus pandemic.

Oil Falls With OPEC+ Meeting Hovering Over Tightening Market 02 Mar 2021

Oil Falls With OPEC+ Meeting Hovering Over Tightening Market

Oil plunged as the dollar pared losses ahead of a key OPEC+ meeting scheduled this week that may return more supply back to a fast-tightening market.

Oil hits highest level in one year 06 Feb 2021

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.

OPEC+ Compliance With Production Cuts Slips To 75% 13 Jan 2021

OPEC+ Compliance With Production Cuts Slips To 75%

OPEC+ group’s compliance with the oil production cuts fell to 75 percent in December 2020—one of the lowest levels since the pact was enacted in May 2020, tanker tracking firm Petro-Logistics said on Tuesday.

Oil Price Fundamental Weekly Forecast, Probably Due for a Correction 11 Jan 2021

Oil Price Fundamental Weekly Forecast, Probably Due for a Correction

Oil prices are ripe for a correction in coming weeks if speculator-driven rallies are not backed by stronger fuel demand soon.

Oil Steadies Near $50 After Surging on Surprise Saudi Output Cut 06 Jan 2021

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.

No Permission Needed to Return to Oil Market 15 Dec 2020

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.