Iranian President Hassan Rouhani said the Organization of the Petroleum Exporting Countries’ recent agreement in Vienna marked a new defeat for the US and thwarted its intrusive plots. “Despite the Americans’ attempt to interfere in OPEC’s affairs and their efforts to upset the balance of oil supplies, their plot was fortunately thwarted with the resistance […]

The Qatari Emir, Tamim Bin Hamad Al Thani, is not attending the (Persian) Gulf Cooperation Council Summit underway in Riyadh, a report said. A state minister is representing the country at the meeting instead, Turkey’s Anadolu Agency reported late Saturday, citing a Qatari official it didn’t identify. Saudi Arabia’s King Salman bin Abdulaziz invited Qatar’s […]

Iran’s ambassador to Vienna-based international organizations praised the fortitude shown by the country’s delegation in a meeting of Organization of the Petroleum Exporting Countries that resulted in Iran’s exemption from OPEC’s plan for a cut in oil output. In comments on Friday evening, Kazem Gharibabadi said the fortitude shown by the Iranian delegation at the […]

Iran’s Oil Minister Bijan Namdar Zanganeh said the Organization of the Petroleum Exporting Countries agreed to exempt Iran from a plan for a cut in oil production after tough and intensive talks, noting that Russia played a constructive role in the meeting as a non-OPEC member. OPEC agreed to cut output despite the US pressure, […]

Iran’s oil minister voiced opposition to any decision by the Organization of the Petroleum Exporting Countries (OPEC) that may reduce the country’s crude output. Speaking to reporters upon his arrival in Vienna ahead of Thursday’s OPEC meeting, Bijan Namdar Zanganeh said Tehran is looking to be exempted from any OPEC oil output cuts because of […]

“Examining the reasons for Qatar’s exit from OPEC is a necessity,” Zanganeh said, adding that “OPEC has big problems from some oil producers which Qatar is not a part of.” The veteran minister made the remarks ahead of the 175th OPEC meeting, which will be held in Vienna, Austria, on Thursday. Qatar said on Monday […]

Iran’s envoy to the Organization of the Petroleum Exporting Countries (OPEC) warned that global oil prices would slump to $40 a barrel without a significant cut in the output of OPEC and its allies. Production will need to be reduced by at least 1.4 million barrels a day to prevent oversupply, Hossein Kazempour Ardebili said […]

According to Saudi Energy Minister Khalid al-Falih, no one has any idea how much oil Iran will be able to export after new US sanctions against the Islamic Republic to kick off on Nov. 4. But more precisely, Iran’s shipment figures – crucial to oil markets – are already a mystery, Reuters news agency reported. […]

 Iran produced 3.447 million barrels per day (bpd) of oil in September, a 150,000 bpd decrease from 3.597 million bpd in August, according to OPEC’s latest monthly report published on Thursday citing secondary sources. The OPEC’s report also put Iran’s oil output based on direct communication at 3.755 million bpd, down 51,000 bpd compared to […]

OPEC’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump’s calls for action to cool the market. “I do not influence prices,” Saudi Energy Minister Khalid al-Falih told reporters as OPEC and non-OPEC energy ministers […]