Iranian Minister of Petroleum Bijan Zanganeh has sent a letter to OPEC president, complaining about some members’ attempts to redistribute over-conformity in production adjustment level among themselves, and attempts to hand over OPEC countries’ over-conformity to non-OPEC countries. In the letter addressed to Suhail Mohamed Al Mazrouei, Minister of Energy & Industry of United Arab […]

Iran’s OPEC governor, Hossein Kazempour Ardebili, said on Monday that the rise in Russia’s oil output runs contrary to global agreement for reduction of oil production and will endanger the long-term unity among oil producers.Criticizing Saudi Arabia and Russia for the oversupply, the official said the countries violated the global agreement on trimming the production, […]

In a letter to OPEC President Mohamed Al Mazrouei, Iranian Oil Minister Bijan Namader Zanganeh highlighted that if member countries do not adhere to their commitments regarding oil output, the effectiveness of the organization will be gradually eroded. In the letter, Zanganeh reminded Mazrouei, who is the Minister of Energy & Industry of the United […]

In a letter, Iran’s oil minister has called on the OPEC to prevent some members from increasing their oil output without seeking consensus with other members. According to Iranian Oil Ministry website SHANA, the Oil Minister Bijan Zangeneh sent a correspondence to OPEC President HE Suhail Mohamed Al Mazrouei, Minister of Energy & Industry of […]

In reaction to Donald Trump’s tweet yesterday, Iran’s OPEC governor, Hossein Kazempour Ardebili said that Saudi Arabia cannot add 2mn bpd to the oil market. “Putting aside the fact that Saudi Arabia has no such capacity to bolster its crude output, this demand [by Trump] could be inferred as an order for the kingdom to […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will take measures and act based on the resolution adopted by the Organization of Petroleum Exporting Countries (OPEC) in its recent meeting. Some countries want to give a positive signal either to the market or the US, so that this issue has nothing to do with OPEC’s […]

OPEC agreed on Friday to raise oil production by around 1 million barrels per day (bpd) from July for the group and its allies, an OPEC source said. The output gain is nominal. The real increase will be smaller because several countries that recently underproduced oil will struggle to return to full quotas while other […]

As the Organization of Petroleum Exporting Countries (OPEC) prepares to meet later this week in Vienna, tension is rising among some of the cartel’s biggest members on what is said to be one of OPEC’s biggest decisions since its establishment. On June 22, OPEC members along with Russia are going to gather once again to […]

TEHRAN – Iran’s representative to OPEC, Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia’s proposal to increase oil production in cartel’s June 22 meeting in Vienna. Speaking to Bloomberg on Sunday, Kazempour said “If the Kingdom of Saudi Arabia and Russia want to increase production, this requires […]

 Iran’s representative to OPEC said Sun. that the three bloc members, including Iran, Venezuela and Iraq, will veto Saudi Arabia’s proposal to increase oil production in Vienna this week. Speaking to Bloomberg, Kazempour Ardebili said the three OPEC founders, including Iran, Venezuela and Iraq, are going to stop a proposal to increase oil production that’s […]