OPEC data: Global energy demand to rise 23% by 2050

SHANA (Tehran) – Global energy demand is projected to increase by 23% by 2050, while the world’s population is expected to grow by only 18% in the same period. Changing lifestyles and a 20% rise in urbanization rates will be the key drivers behind this surge in energy demand.

Iran leads global oil production growth with 13% increase

SHANA (Tehran) – OPEC data shows Iran ranked first in global oil production growth in 2024, increasing crude output by 374,000 barrels per day (bpd), while Saudi Arabia saw a significant decline for the second consecutive year.

MP says US oil sanctions policy against Iran has failed

SHANA (Tehran) – The head of the Iranian Parliament’s Energy Committee said the US believes that by intensifying sanctions and imposing restrictions on individuals, entities and international companies, it can disrupt Iran’s oil sales and revenue. However, he stated, this policy has failed.

Cease-fire brings calm to oil market amid complex outlook  

SHANA (Tehran) - A spokesperson for Iran’s Union of Exporters of Oil, Gas, and Petrochemical Products stated that the oil market is simultaneously influenced by fundamental factors, countries’ economic conditions, and political developments. 

No disruptions to Iran’s oil exports, Paknejad says

SHANA (Tehran) – Oil Minister Mohsen Paknejad said Wednesday that Iran’s oil exports are continuing unchanged in volume and terms, adding, “At present, we have no concerns in this regard.”

Resilience during the 12-day war:

From daily distribution of 200m liters of gasoline to sustained production

SHANA (Tehran) – For 12 days, as Iran faced attacks from the Zionist regime and an imposed war, the oil industry operated seamlessly—unshaken and unwavering. It stood firm, ensuring no home was left without power and no fuel shortages disrupted the nation.

Iran’s economic sector effectively handled wartime pressures

SHANA (Tehran) – Iran’s first vice president said that on the first day of the 12-day war, gasoline consumption exceeded production by 80 million liters, but the situation was managed effectively due to collective efforts on the economic front, with the oil industry performing notably well during the crisis.

Oil industry’s performance during war exemplified crisis management

SHANA (Tehran) – A member of the Iranian Parliament’s Energy Committee described the oil industry’s performance during the 12-day war with the Zionist regime as a prime example of infrastructure resilience, centralized command and organizational cohesion.

Oil prices drop 10% last week

SHANA (Tehran) – Oil prices, which had recently surged to a five-month high amid escalating tensions between the Israeli regime and Iran, fell by about 10% last week as hostilities subsided.

Oil prices ease as Iran-Zionists conflict enters sixth day

SHANA (Tehran) – Oil prices eased in Asian trade on Wednesday, after a gain of 4% in the previous session, as markets weighed the chance of supply disruptions from the Iran-Israel conflict against a U.S. Federal Reserve rates decision that could impact oil demand.

OPEC crude oil production tops 27 mbd in May

SHANA (Tehran) - Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 27.022 million barrels per day (bpd) of oil in May, according to the group’s latest report.

FM: Attacking oil installations is an attempt to extension of war

SHANA (Tehran) – Iranian Foreign Minister Abbas Araghchi said targeting Iranian oil installation in Persian Gulf is part of attempts to extend the war.

Oil rises as Iran-Zionists conflict keeps floor under prices

SHANA (Tehran) - Oil prices rose on Tuesday, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.

Foreign Ministry spox:

Attack on Iran’s oil facilities is provocative

SHANA (Tehran) - An attack on Iran’s oil facilities in Asaluyeh is a clear sign of the Zionist regime’s intent to drag others into this conflict, the Foreign Ministry spokesperson said.  

No fuel supply issues reported

Oil depots operations continue after incident

SHANA (Tehran) - The supply and distribution director of the National Iranian Oil Products Distribution Company (NIOPDC) confirmed that the oil depots in Shahran and Rey remain operational despite last night’s fire caused by an attack by the Zionist regime. 

Oil depot inventory adjusted before Shahran fire incident

SHANA (Tehran) - The Tehran Fire Department spokesperson stated that the warehouse that caught fire in the Shahran district contained petroleum products other than gasoline.

Oil soars more than 6% after Israel's strike on Iran alarms market

SHANA (Tehran) – Oil prices jumped more than $4 a barrel on Friday, hitting their highest price in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.

Iran increases heavy crude transfer capacity

SHANA (Tehran) – The deputy of operations at the production management of the National Iranian South Oil Company (NISOC) said that with the commissioning of a new 30-inch pipeline for transferring light oil from the West Karun fields, the 36-inch Ahvaz-Omidiyeh export pipeline has been reassigned to transport heavy oil.

Overhaul of gas compression stations begins in south oil-rich regions

SHANA (Tehran) – The deputy director of production, gas compression, and gas injection at the National Iranian South Oil Company announced the start of overhauls at gas pressure boosting stations by the maintenance department. The effort aims to ensure maximum readiness for the upcoming winter and guarantee stable gas supply to the national grid.

Expert warns of market instability following OPEC+ production move

SHANA (Tehran) - The former director of international affairs at the National Iranian Oil Company warned of the consequences of a recent decision by eight OPEC+ member countries, cautioning that instability could return to the oil market. 

‘Increased oil supply alone won’t lower prices’

SHANA (Tehran) – Morteza Behrouzifar, a faculty member at the Institute for International Energy Studies, said the recent decision by eight OPEC+ member countries to increase oil supply will not significantly reduce prices in the short term—barring a widespread global economic recession—unless geopolitical and economic stability persists.

Barrels return to the market: Is OPEC+ targeting shale?

SHANA (Tehran) - A recent decision by eight OPEC+ member countries has effectively reversed 62% of their voluntary production cuts over the past four months, bringing additional oil supply back to the market. The move raises questions about its intended goals and potential consequences for global oil markets. 

OPEC+ agrees to 411k bpd July output hike, eyes market balance

SHANA (Tehran) - The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on May 31, 2025, to review global market conditions and outlook.

NISOC takes major step toward sustainable oil production

SHANA (Tehran) – The CEO of National Iranian South Oil Company (NISOC) announced that the company aims to increase its oil production to more than 2.8 million barrels per day by the end of this year.

Comprehensive production roadmap drafted at NIOC

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the continuation of increasing oil production through the end of the year, stating that due to measures taken, subsidiaries have had access to a comprehensive annual production roadmap since the beginning of the year.

West Karun oil fields eyed for 1 mbd production

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the need to strengthen the Arvandan Oil and Gas Company to achieve the goal of producing 1 million barrels of oil per day from the West Karun fields.

Iran sets June 2025 oil prices for global markets

SHANA (Tehran) – The National Iranian Oil Company (NIOC) announced official selling prices for various crude oil grades in June 2025.

Iran’s oil industry must tap reserves to turn potential into power

SHANA (Tehran) – A senior oil expert stated that "power in the oil market originates at the wellhead," emphasizing that vast hydrocarbon reserves hold no operational economic value until they are extracted and utilized.

Revive exploration council to secure Iran’s oil future, says former NIOC director

SHANA (Tehran) – Saleh Hendi, former exploration director of the National Iranian Oil Company (NIOC), emphasized the strategic role of exploration in the future of the oil industry and called for the revival of the Supreme Exploration Council and greater attention to this sector by senior managers. He stated, "Exploration workers are the unsung pioneers of the oil industry."

Iran’s high potential for discovering new oil, gas reserves

SHANA (Tehran) – The former exploration director of the National Iranian Oil Company (NIOC) said the process of discovering oil and gas is becoming increasingly difficult, as large, low-risk reserves have already been identified, leaving current exploration operations with higher risks. However, Iran still holds significant potential for discovering new oil and gas resources.