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.
TEHRAN (Iran News) – Oil-producing group OPEC+, and its allies, will likely delay an output hike at its meeting this week as it weighs positive vaccine news against new coronavirus lockdowns and resurgent shale drilling in the U.S. The coalition known as OPEC+, which comprises some of the world’s largest crude producers, will begin a […]
Oil fluctuated near $41 a barrel as the dollar fell and traders weighed the potential for OPEC+ to delay a planned easing of output cuts.
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.
Iraq, the United Arab Emirates (UAE), and Kuwait - the biggest OPEC producers behind Saudi Arabia – are reportedly not particularly inclined to support a rollover of the cuts
OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market.
With beginning of the autumn, the oil market atmosphere is tending toward boom.
September 14, 2020 marks the sixtieth anniversary of the Organization of the Petroleum, Exporting Countries or OPEC.
OPEC has managed to raise crude prices and stabilize the oil market, Iran's Oil Minister Bijan Namdar Zanganeh said Monday.
Oil ministry has signed 13 contracts worth roughly €1.5 billion with 14 local firms to enhance and maintain oil production.