OPEC
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187th Meeting of OPEC Conference, 36th ONOMM held virtually
SHANA (Tehran) – The 187th Meeting of OPEC Conference and the 36th OPEC and Non-OPEC Ministerial Meeting (ONOMM) are held via videoconference on November 30, 2023.
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Iran elected as OPEC conference alternate president in 2024
SHANA (Tehran) – Gabon and Iran were on Thursday elected as president and alternate president of the Conference of Ministers of the Organization of Petroleum Exporting Countries (OPEC) for 2024, respectively.
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187th Meeting of OPEC Conference kicks off virtually
SHANA (Tehran) – The 187th Meeting of OPEC Conference started virtually on Thursday.
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Whose ‘moment of truth’?
Last week, the International Energy Agency (IEA) in its report ‘The Oil and Gas Industry in Net Zero Transitions’ stated that the oil and gas industry faces a ‘moment of truth’. The industry has been told that it must “choose between fueling the climate crisis or embracing the shift to clean energy”, against the backdrop of the IEA’s proposed normative net-zero scenario.
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Goldman Sachs says deeper OPEC output cut remains on table
Goldman Sachs says the possibility of a deeper group oil output cut is on the table when OPEC+ oil producers meet, and it expects Saudi Arabia and Russia to announce an extension of their additional voluntary curbs through at least the first quarter of 2024.
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OPEC: Iran’s oil output keeps rising
SHANA (Tehran) – Iran’s crude oil production continued its rise in October, the latest report of the Organization of the Petroleum Exporting Countries (OPEC) showed.
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Oil market remains strong despite negative sentiment: OPEC
OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth and stuck to its relatively high 2024 prediction.
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OPEC oil output rises for third month; Iran production hits new high: Reuters survey
OPEC oil output has risen for a third straight month in October, a Reuters survey found on Tuesday, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
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IEA, OPEC predictions of 2024 oil demand growth diverge further
The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth.
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OPEC's September report: Production surges with Iran's output surpassing 3m bpd
OPEC’s crude oil production witnessed a noticeable uptick in September as compared to August, as per the latest data released in the Monthly Oil Market Report (MOMR) published by the organization.
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OPEC, oil industry will attend COP28 climate summit: OPEC SG
The world's top oil producers, and representatives from the energy industry, will attend the COP28 climate summit in the United Arab Emirates, the head of the Organisation of Petroleum Exporting Countries (OPEC) said on Tuesday.
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OPEC hikes long-term oil demand outlook – in stark contrast to other predictions of peak crude
OPEC on Monday raised its medium- and long-term forecasts for global oil demand.
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OPEC raises oil demand view in long-term outlook, sources say
OPEC has raised its medium- and long-term oil demand outlook in a forthcoming report, three OPEC sources said, despite the transition toward renewable energy, highlighting the oil exporting group's more bullish view compared to other forecasters.
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OPEC+ maintains output reduction to boost oil prices
An OPEC+ panel recommended Wednesday that the oil group keep its current output reduction strategy unchanged after heavyweights Saudi Arabia and Russia vowed to maintain their cuts to prop up prices.
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OPEC oil output rises for second month on Nigeria, Iran – Reuters survey
OPEC oil output rose for a second straight month in September, a Reuters survey found on Monday, led by increases in Nigeria and Iran despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
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OPEC optimistic on demand, calls for more oil and gas investment
OPEC is optimistic on demand and sees under-investment as a risk to energy security, Secretary General Haitham Al Ghais said on Monday at an energy industry event in Abu Dhabi.
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Iran regains pre-sanctions OPEC rank with over 1m bpd output hike: NIOC chief
SHANA (Tehran) – Iran has regained its pre-sanctions position in the OPEC crude oil production table with an increase of more than 1 million barrels per day (bpd) achieved under the 13th administration, said the National Iranian Oil Company (NIOC) managing director on Wednesday.
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OPEC marks its 63rd anniversary
The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.
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OPEC report: Iran regains position as third-largest oil producer with 3m bpd output
SHANA (Tehran) – The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in August.
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OPEC oil output rises in August as Iran hits 2018 high: Reuters survey
OPEC oil output rose in August as Iranian supply rose to its highest since 2018, a Reuters survey found on Thursday, despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
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Why the world needs more oil, not less
What do toothpaste, deodorant, soap, cameras, computers, gasoline, heating oil, jet fuel, car tires, contact lenses and artificial limbs have in common?
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UAE says current OPEC+ actions sufficient for now
Current actions by OPEC+ to support the oil market are sufficient for now, UAE Energy Minister Suhail al-Mazrouei said, and the group is "only a phone call away" if any further steps are needed.
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OPEC: Iran oil revenues up 67% in 2022
The Annual Statistical Bulletin (ASB) of the Organization of the Petroleum Exporting Countries (OPEC) shows a 67% increase in Iran’s oil revenues in 2022.
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Global energy demand to rise 23% by 2045, OPEC says
Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
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Iran, UAE to promote oil cooperation
SHANA (Vienna) – Iranian Oil Minister Javad Owji and the United Arab Emirates’ Minister of Energy Suhail Al Mazrouei here on Wednesday put emphasis on promoting bilateral oil cooperation.
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OPEC market share expected to rise to 40% by 2040-2045: SG
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais said the organization's market share is expected to rise to 40% by 2040-2045, Al Arabiya TV reported on Thursday.
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On the sidelines of 8th OPEC International Seminar in Vienna
Iranian, Saudi ministers hold energy talks
SHANA (Vienna) – Iran’s Oil Minister Javad Owji and Saudi Minister of Energy Abdulaziz bin Salman here on Wednesday held energy talks on the sidelines of the 8th OPEC International Seminar.
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Owji: Oil deals worth $40b signed in 20 months; Iran’s future offers ‘appealing’ to investors
SHANA (Vienna) – Iran’s oil minister here on Wednesday said his country has signed contracts worth $40 billion with domestic and foreign companies since 20 months ago.
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8th OPEC International Seminar kicks off in Vienna
The 8th OPEC International Seminar started in Vienna, the capital of Austria, on Wednesday.
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Iran oil minister heads to Vienna to attend 8th OPEC International Seminar
SHANA (Tehran) – Iran’s Oil Minister Javad Owji left here for Austria’s capital Vienna to attend the 8th OPEC International Seminar.