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.

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.

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.

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.

OPEC marks its 63rd anniversary

The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.

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.

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.

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.

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.

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.

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.

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.

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.

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.

8th OPEC International Seminar kicks off in Vienna

The 8th OPEC International Seminar started in Vienna, the capital of Austria, on Wednesday.

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.

Owji to attend 8th OPEC International Seminar

SHANA (Tehran) – Iran’s Oil Minister Javad Owji will attend the 8th OPEC International Seminar in Austria’s capital Vienna from July 5-6.

Growth risks to restrain oil prices this year

Oil prices will struggle for traction this year as global economic headwinds stymie gains that could be fuelled by a rebound in China and OPEC+ cuts, a Reuters poll showed on Friday.

OPEC celebrates 60th anniversary in Baghdad

The Organization of Petroleum Exporting Countries (OPEC) commemorated its Diamond Anniversary (60 years) in Baghdad, Iraq.

Saudi Arabia offers 1 mb/d voluntary cuts for July

2024 oil output for OPEC+ adjusted to 40.46 mb/d

Saudi Arabia will make deep production cuts in July as part of a broader output-limiting OPEC+ deal as the group faces flagging oil prices and a looming supply glut, Reuters reported on Sunday.

Iran’s OPEC governor: ‘Everything is on the table’ in OPEC+ meeting

SHANA (Vienna) – Iran’s OPEC Governor Amir Hossein Zamaninia on Saturday said "everything is on the table" for OPEC+ to make its decision on production in the Vienna meeting.

Al Ghais says OPEC will welcome back Iran’s full return to market when sanctions lifted

OPEC Secretary General, His Excellency Haitham Al Ghais, said that the OPEC family welcomes back the full return of Iran’s oil production to the oil market, once the sanctions against its oil sector are lifted, HE Al Ghais was talking in an exclusive interview with the Iranian SHANA news agency and Iran Petroleum monthly.

Iran president meets OPEC chief

Raeisi calls for OPEC members’ unity to foil Western plot to create divisions

SHANA (Tehran) – Iran’s president held talks with the Organization of the Petroleum Exporting Countries secretary general here on Saturday, calling for unity among OPEC member states to foil some Western countries’ plot to create divisions.

OPEC chief arrives in Tehran to meet president, oil minister

SHANA (Tehran) – OPEC Secretary General Haitham Al Ghais arrived in Tehran on Friday to hold talks with President Seyyed Ebrahim Raeisi and Oil Minister Javad Owji.

OPEC chief says underinvestment could trigger oil market volatility

OPEC Secretary-General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth.

OPEC holds global oil demand view steady, cites U.S. debt ceiling risks

OPEC's global oil demand forecast for 2023 was held steady for a third month, with the producer group citing the potential Chinese growth to be offset by downside economic risks elsewhere such as the U.S. debt ceiling.