oil market

  • 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.