OPEC in chaos as Saudi-UAE spat goes public

Riyadh and Abu Dhabi are embroiled in a rare public dispute that has halted an agreement among OPEC plus members.

OPEC chief says “best days lie ahead” with Raisi’s support for oil cartel

President-elect Raisi receives more congrats

TEHRAN - Congratulatory messages continue to pouring in on Ebrahim Raisi’s victory in the June 18 presidential election in Iran.

Iran will return to oil market as soon as sanctions are lifted: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported.

Iran discusses oil comeback with OPEC

TEHRAN - Mohammad Sanusi Barkindo, the secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), met with Amir Hossein Zamaninia, Iran’s governor for OPEC in Vienna, on Thursday to discuss the Islamic Republic’s return to the oil market in case of U.S. lifting the sanctions on Iran’s oil industry.

Iran’s Zamaninia elected as chairman of OPEC executive board in 2021

TEHRAN - Iranian Deputy Oil Minister for International Affairs and Trading Amir-Hossein Zamaninia who is the country’s governor at the Organization of Petroleum Exporting Countries (OPEC) has been elected as the new chairman of the OPEC executive board for 2021.

OPEC’s secretary-general welcomes Iran’s deputy FM in Vienna

TEHRAN- Mohammad Sanusi Barkindo, the secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), met with Iran’s Deputy Foreign Minister for Legal and International Affairs Mohsen Baharvand in Vienna on Saturday.

Long-term market balance depends on global economy recovery: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Saturday that the long term increase of demand in the oil market depends on the recovery of the entire global economy, Shana reported.

Iran’s man battles bombs and sanctions

He survived a bombing that left him badly wounded, and defended Iran’s oil interests through war and sanctions. Hossein Kazempour Ardebili, who died on Saturday, was one of the ultimate OPEC negotiators.

Zanganeh offers condolences on passing of Iran’s OPEC governor

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh has offered condolences on the passing of the country’s Governor to the Organization of Petroleum Exporting Countries (OPEC) Hossein Kazempour Ardebili, Shana reported.

By Payman Yazdani & Haniyeh Sadat Jafariyeh

Oil U.S. tool to put pressure on China: energy expert

TEHRAN – Monday, April 20 (2020), was a historic day for the oil market. West Texas Intermediate (WTI) closed below zero for the first time in the history of the oil market. President Trump's policies are considered as the main cause of the sharp prices fall and how he is using the factor to put pressure on its major rival, China, however, the fire will damage both producers and consumers in the long run.

How Saudis victimize OPEC members for the sake of Trump's wealthy supporters!

Saudi Crown Prince Mohammad Bin Salman's so-called oil war against Russia and Riyadh's move to increase oil supply and subsequent drop in price just helped Donald Trump's wealthy supporters cope easier with decline in the US oil production due to COVID-19 restrictions, a senior economic expert said, noting that OPEC members have realized that they have been victimized by MbS for the sake Saudis' American friends.

OPEC, allies reach primary agreement to balance oil market

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Friday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies have reached an agreement for cutting their oil output by at least 10 million barrels per day (bpd) in the upcoming months of May and June, Shana reported.

By: Ebrahim Fallahi

Russia, Saudi end oil feud but is it enough?

TEHRAN – The Organization of Petroleum Exporting Countries (OPEC) and their non-OPEC allies, on Thursday, reached a tentative agreement to cut the global oil output by at least 10 million barrels for May and June to balance the oil market which literary doesn’t have any more capacity to store the supplied oil.

By Haniyeh Sadat Jafariyeh

Intl. oil market cornered by coronavirus, Iranian economy remains resilient: energy expert

TEHRAN – President of Vienna Energy Research Group believes the Iranian economy was oil-reliant but the country learnt, under US sanctions, how to scaffold its oil industry and economic structure over the years. Presently, Iran is not a loser in the coronavirus-hit global oil market.

‘OPEC, non-OPEC agreement reachable before April’

TEHRAN- Iranian Minister of Petroleum Bijan Namdar Zanganeh says OPEC+ could reach an agreement to consider deeper cuts in the group’s output before the end of March., Shana reported.

Iran’s envoy discusses oil market with OPEC secretary-general

TEHRAN - Kazem Gharibabadi, Iran’s permanent representative to the Vienna-based international organizations, held talks with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo on Thursday to discuss the oil market.

OPEC should take action to calm the stressed market: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC nations should try to balance the oil market which has tumbled as the worries over the impacts of the coronavirus continue to grow.

BY: Ebrahim Fallahi

Is OPEC stuck in a cycle of endless cuts?

TEHRAN – In its latest annual World Oil Outlook (WOO) report, published last week, the Organization of the Petroleum Exporting Countries (OPEC) predicted its oil production and market share to fall in the years to come.

OPEC+ considers possibility of U.S. easing Iran sanctions

TEHRAN – Organization of the Petroleum Exporting Countries and its allies (known as OPEX+), In its latest committee meeting on Thursday, discussed reports that the United States might ease sanctions imposed on Iran’s oil sale and what impact they might have on future of the global supplies.

Iran, largest producer of gasoline in region, among OPEC member states

With the daily production capacity of 115 million liters of gasoline per day, Islamic Republic of Iran is the largest producer of gasoline in the region and also among Organization of Petroleum Exporting Countries’ (OPEC) member states.

Iran gives conditional green light to rescheduling OPEC meeting

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has agreed with rescheduling the upcoming OPEC meeting only if it is set to be on July 10-12, opposing the offer to postpone the meeting to July 3-4.

Iran doesn’t intend to leave OPEC despite tensions: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the country doesn’t have any plans to leave OPEC despite the tensions that some fellow-members are creating in the organization, Shana reported on Saturday.

Too early to assess impact of U.S. Iran sanctions on market: Novak

TEHRAN - Russian Energy Minister Alexander Novak Said the impact which the U.S. sanctions on Iranian oil industry will have on the global markets is still unclear, IRNA reported

Excluding Iran from oil market impossible: Barkindo

TEHRAN- The secretary-general of the Organization of Petroleum Exporting Countries (OPEC) said it is "impossible" to eliminate Iranian crude from the global market, Shana reported.

Iran will respond to any threat from fellow OPEC members: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh said his country will respond to any threat by fellow OPEC member states, Shana reported.

Iran has been and will remain a frontier in OPEC: Barkindo

TEHRAN - OPEC Secretary-General Mohammad Barkindo has stressed the important role of Iran as one the founders of OPEC saying that Iran will always be a frontier in the future of the organization.

Russia turns down permanent alliance with OPEC 

Moscow has ditched the idea of launching a joint structure with the Organization of the Petroleum Exporting Countries (OPEC) but will continue to cooperate with major oil producers, according to the Russian energy ministry.