Shana

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Iran Petroleum

Iran Petroleum No. 103

Iran Petroleum

Iran Petroleum No. 104

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.

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).

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.

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).