OPEC+ would seek to woo Iran into supply cut deal post sanctions

TEHRAN - Sources close to the Organization of Petroleum Exporting Countries (OPEC) have told Reuters that OPEC+ is expected to persuade Iran to join the group’s cut deal if the U.S. sanctions are lifted from the country’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.

Analysts calling OPEC, allies historic deal ‘insufficient’

TEHRAN – After four days of deliberation and drama, the Organization of Petroleum Exporting Countries (OPEC) and its Russian-led allies finally managed to get Mexico to join a global pact for cutting oil production by 9.7 million barrels per day (bpd) in May and June.

By Ebrahim Fallahi

Worries over global economy outweighs geopolitical factors in setting oil prices

TEHRAN – The upward trend of the oil prices in the market hit a stop point on Tuesday when the International Monetary Fund (IMF), once again, poured cold water on the hopes of oil traders who were getting optimistic about global demand this year.

Extending OPEC-non-OPEC deal not difficult: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh said extending the deal between OPEC and the group of non-OPEC oil producing countries on output cut is not a difficult task, Shana reported.