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OPEC+ Agrees 7.125m bpd Output Cuts for Feb.; Russia, Kazakhstan to Raise Production
OPEC and its allies reached a consensus on crude oil output cuts of 7.125 million bpd for February and 7.050 million bpd for March, allowing Russia and Kazakhstan to raise production.
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Iran Petroleum Minister: Future Months Determining for Oil Market
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said on Monday that future months are determining for oil market in terms of supply-demand uncertainties.
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13th OPEC+ Ministerial Meeting starts via Videoconference
TEHRAN (Shana) -- The thirteenth ministerial meeting of OPEC members and non-OPEC producers, a grouping called OPEC+, started a few minutes ago via video conference.
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CORRECTED--OPEC Partners Agree to Extend 9.6 mb/d Output Cut
TEHRAN (Shana) -- Non-OPEC ministers gave the nod to OPEC’s earlier proposal for extending for another one month the previously reached agreement on cutting 9.6 mb/d from their output in a bid to help shore up prices.
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Zangeneh: Oil Price Balance Tied to Global Economic Recovery
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said on Saturday that balance would be back to the oil market once the entire global economy would recover.
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Iran: OPEC to Keep Cutting Output If Non-OPEC Agrees
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said OPEC ministers agreed on Saturday to continue cutting 9.7 mb/d from their output provided that non-member allies follow suit.
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Iran Names New OPEC Governor
TEHRAN (Shana) -- Iran’s deputy minister of petroleum for international affairs, Amir-Hossein Zamani-Nia, has been accepted as the country’s new OPEC governor.
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Zangeneh Says Kazempour’s Death a “Major Loss”
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh on Saturday heaped praise on Iran’s deceased OPEC governor Hossein Kazempour Ardebili, saying his recent death was a “major loss” for the country.
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OPEC Ministers Meet to Decide Supply Cut
TEHRAN (Shana) -- OPEC ministers on Saturday came together on videoconference to discuss what policy to adopt on oil production in coming months amid falling demand due to the coronavirus outbreak.
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OPEC+ Ministers hold Virtual Meeting amid Insane Oil Market
TEHRAN (Shana) -- Several oil and energy ministers of the OPEC–non-OPEC oil producing countries, signatories of the Declaration of Cooperation, held an informal teleconference to brainstorm the current dramatic oil market situation.
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Zangeneh says Would Stress De-politicization of Energy Market in Moscow
MOSCOW (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh said he would call on his Russian opposite number to prevent politicization of the oil market.
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Unilateralism, Biggest OPEC Problem: Zangeneh
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said he had no problem with output cut, slamming "unilateralism" as the biggest problem in the Organization of the Petroleum Exporting Countries (OPEC).
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OPEC+ Deal Meaningless without Unanimity inside OPEC
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh voiced Iran’s support for an agreement between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers, saying, however, such an agreement would be meaningless without an internal understanding inside the organization.
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Zangeneh Leaving Tehran to Attend OPEC Meeting in Vienna
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh will leave Tehran for Vienna within hours to attend the 176th meeting of the Organization of the Petroleum Exporting Countries (OPEC).