OPEC’s daily oil output up by 478,000 barrels in August

SHANA (Tehran) – According to the Organization of the Petroleum Exporting Countries' latest monthly report, OPEC’s daily oil production increased by 478,000 barrels in August to reach 27.5 million barrels per day.

OPEC at 65: A veteran player faces new challenges

SHANA (Tehran) – The former head of OPEC's petroleum studies department said that while various issues have reduced the cartel's power over time, he believes it will maintain a prominent position for the next 30 years if it makes rational decisions regarding oil and understands its true place in the global energy mix.

Eight OPEC+ states announce additional voluntary adjustments

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 September 7, 2025, to review global market conditions and outlook, according to opec.org.

Commemorating OPEC'S 65th anniversary

Five men, five nations, one idea

SHANA (Tehran) – The Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) marked the organization's 65th anniversary by paying tribute to its founders in a post on its official account.

OPEC+ crude oil production rises by 335,000 barrels

SHANA (Tehran) – The combined crude oil production of OPEC and OPEC+ member countries reached 41.94 million barrels per day (bpd) last month, up 335,000 bpd from June’s output of 41.605 million bpd.

OPEC+ nations reaffirm commitment to market stability

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 August 3, 2025, to review global market conditions and outlook.

OPEC+ monitoring committee holds meeting with oil minister in attendance

SHANA (Tehran) - The 61st meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was held via video conference with the oil minister as the 2025 OPEC Conference president in attendance.  

OPEC SG praises SHANA’s role in success of 9th OPEC Int’l Seminar

SHANA (Tehran) – In a letter addressed to Ali-Mohammad Mousavi, Iran’s OPEC Governor and Deputy Minister for International Affairs and Trade, OPEC Secretary General Haitham Al Ghais expressed deep appreciation for the SHANA News Agency’s pivotal role as a Media Partner in the success of the 9th OPEC International Seminar.

OPEC’s oil earnings dip—but not for four members

SHANA (Tehran) – OPEC data shows Iran’s oil export revenue increased by 14% in 2024.

OPEC’s pursuit of clean cooking for all: The role of LPG

SHANA (Tehran) – It is a statistic that is both unsettling and shocking. Roughly a quarter of the world’s population, about 2.1 billion people, depend on polluting fuels for cooking. Inefficient cooking fuels pose major health risks, leading to diseases and deaths. Household air pollution is responsible for around 3.2 million deaths per year.

Iran Heavy crude prices rise 9.2%

SHANA (Tehran) – The price of Iran Heavy crude oil increased by $5.88, or 9.2%, in June compared to May, according to the latest monthly OPEC report.

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.

Paknejad calls for peaceful pathways in global energy

SHANA (Tehran) – Oil Minister Mohsen Paknejad emphasized that aggression against energy-producing countries violates international law and threatens global stability, stating that the energy industry—particularly oil—requires peace and stability to fulfill its role in enhancing prosperity at national, regional, and global levels.

Iran ranks as OPEC's second-largest oil refiner

SHANA (Tehran) – With a refining capacity of 2.237 million barrels per day, Iran holds a 16% share of OPEC’s total refining capacity, making it the second-largest refiner among the organization’s member countries. Iran also accounts for 2.1% of global refining capacity.

60th ASB of OPEC launched

SHANA (Tehran) - The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria. 

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.

OPEC extends condolences over Zionist regime aggression on Iran

SHANA (Tehran) – The Organization of the Petroleum Exporting Countries (OPEC) has extends condolences over the recent aggression by the Zionist regime against Iran, a key member of the oil-producing bloc, in a formal letter addressed to Iranian officials.

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.

39th OPEC and non-OPEC Ministerial Meeting

OPEC+ extends production agreement until 2026, plans new capacity assessment

SHANA (Tehran) - In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, the Participating Countries decided to:

Finding Nemo, IEA discovers its ‘missing barrels’

SHANA (Tehran) - The International Energy Agency (IEA) has again found its ‘missing barrels’. Although the term should be viewed as a misnomer. Barrels are never actually missing; it is just that global demand for oil is being materially under-counted. 

OPEC crude production hits 26.7 mbd in April

SHANA (Tehran) - Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 26.71 million barrels per day (bpd) of oil in April, according to the group’s latest report.  

OPEC Secretary-General extends condolences to Paknejad following Bandar Abbas incident

SHANA (Tehran) – The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) expressed his condolences and sympathy to Iran’s oil minister following an explosion at the Shahid Rajaee port in Bandar Abbas.

Iran's oil production up by 12,000 bpd in March, OPEC reports

SHANA (Tehran) - According to OPEC's latest monthly report, Iran's crude oil production increased by 12,000 barrels per day (bpd) in March, reaching 3.335 million bpd.