Iran’s Oil Minister Bijan Namdar Zanganeh has recently and on the sidelines of 24th International Oil Show in Tehran answered the question of reporters that Iran would remain in the Organization of the Petroleum Exporting Countries (OPEC) as long as it meets its interests and if other members of the organization try to meet their demands at the expense of other members, then it is natural Iran to make different decision. It means that others’ hurdles and troubles can lead to Iran’s pullout of the OPEC and the pullout would definitely have significant consequences for the future of the organization.

Iranian Oil Minster Bijan Zanganeh said Wed. that the oil market could not merely be managed by statements of the US officials.

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According to OPEC’s latest monthly report, Iranian heavy oil price increased $5.10 per barrel in February, 2019, reaching $61.29.

The Brent crude oil on Mon. for the first time in 2019, crossed the $71/barrel threshold, only hours after the US labelled Iran's elite Islamic Revolutionary Guards Corps a 'terrorist group', indicating that the US president, contrary to his tweets, not only was uninterested in stabilizing the oil market and helping cut fuel prices in US, but also caused turmoil in the market with his illogical decisions.

Iranian Minister of Petroleum Bijan Zanganeh said the country would be recovering natural gas and crude oil from 27 phases of the massive South Pars gas field by late March 2020.

A former envoy of Iran to the Organization of the Petroleum Exporting Countries (OPEC) called for efforts to diversify the oil export market and find new purchasers. Iran should not confine itself to selling crude to the eight nations that have been granted sanctions waivers by the US, Mohammad Ali Khatibi said. The former envoy to […]

OPEC members have shown that they can reach agreements regarding oil production despite having intense political and even military disputes, said Iranian Oil Minister Bijan Zanganeh on Saturday. “OPEC, as a third world organization, has shown the capacity in which members can negotiate and reach important results regarding their common interests despite having the most […]

Iranian Oil Minister Bijan Namdar Zanganeh said the country has completely been exempted from a resolution by the Organization of the Petroleum Exporting Countries (OPEC) to reduce oil production. Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Thursday night, Zanganeh shrugged off the issue that Iran’s exemption from the OPEC resolution on oil […]

Iranian President Hassan Rouhani highlighted the futility of the US government’s attempts to cut Iran’s oil exports down to zero and said that since the latest batch of economic sanctions against the Islamic Republic took effect, oil exports “have become better”. “The US wanted to block our oil exports but they have become better since […]