oil market

  • OPEC and a Bug called "Sloppiness"

    OPEC and a Bug called "Sloppiness"

    TEHRAN (Shana) – The Organization of the Petroleum Exporting Countries (OPEC) is preparing for its 60th anniversary celebrations in September, marking one of the most volatile times in recent years. Although OPEC Secretariat has not been very agile and orderly in recent months, at least over the years since I started observing the Organization’s moves, and it is exhibiting signs of severe sloppiness which has not been hidden in the eyes of most local and foreign observers.

  • What is Oil Industry
  • OPEC Conference and OPEC and non-OPEC Ministerial Meeting rescheduled to June 6

    OPEC Conference and OPEC and non-OPEC Ministerial Meeting rescheduled to June 6

    TEHRAN (Shana) -- The 179th Meeting of the OPEC Conference and the 11th OPEC and non-OPEC Ministerial Meeting that were originally planned for 9 and 10 June 2020, respectively, are now scheduled to take place via videoconference on Saturday, 6 June 2020.

  • Oil for Our Nation

    Oil for Our Nation

    TEHRAN (Shana) -- Everything initiated when a national demand was brought up in parliament. Some 15 years had passed since the 1933 agreement. World War II (WWII) had come to an end and triumphant Allies were letting the US take over politics and economy. Britain, France and their European allies felt exhausted due to the war with German Nazism and Italian Fascism. Now, it was the US who wanted to fish in troubled waters caused by WWII. Under such circumstances, nationalists and independent movements in Iran found the chance to breathe fresh air and they focused on the petroleum industry.

  • COVID-19, Main Culprit in Recent Oil Price Fluctuations: Zangeneh

    COVID-19, Main Culprit in Recent Oil Price Fluctuations: Zangeneh

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh says that coronavirus is to blame for recent price fluctuations in the oil market.

  • Market Balance, a Necessity: Zangeneh

    Market Balance, a Necessity: Zangeneh

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the oil market was under pressure because of coronavirus outbreak and as a result the oil price had fallen to below $60 per barrel, adding, “Efforts must be made to ensure the market balance”.

  • 2019 Oil Market Hotbeds

    2019 Oil Market Hotbeds

    TEHRAN (Shana) -- The year 2019 was fraught with events for global oil markets. However, as far as the pricing was concerned the impacts were weak and short-lived on the market. That could have largely affected the oil market in the middle of the decade, but by the end of the last decade of the 21st century, the impact has been meager. In other words, 2019 ended the same way it had started. No significant development was witnessed in the trend of prices with which are mainly concerned producers, consumers, speculators and market analysts. Nonetheless, in the final hours of 2019, oil prices experienced an unpredicted jump to cross $70 a barrel, an unprecedented record since 2018.

  • Zangeneh says Would Stress De-politicization of Energy Market in Moscow

    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.