OPEC

OPEC chief condoles Iran' oil min. over Bandar Abbas incident

TEHRAN, Apr. 29 (MNA) – The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) expressed his condolences and sympathy to Iran’s Oil Minister Mohsen Paknejad following an explosion at the Shahid Rajaee port in Bandar Abbas.

Russia, Iran ready to work on new overland gas corridors

TEHRAN, Apr. 25 (MNA) – Iranian and Russian officials expressed readiness during talks to continue working on joint projects of creating new overland gas corridors from Russia to Iran.

Iran's oil output increases by 12,000 bpd: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said that Iran's oil production volume has increased by 12,000 barrels per day (bpd ) in March, reaching 3.335 million barrels per day.

Iran oil minister:

JMMC plays great role in maintaining oil market stability

TEHRAN, Apr. 06 (MNA) – The oil minister expressed confidence that the OPEC+ Joint Ministerial Monitoring Committee (JMMC) will assist member countries in playing an active, precise, and cautious role in the oil market.

IEA sees global oil market surplus for 2025

TEHRAN, Mar. 15 (MNA) — The International Energy Agency (IEA) has said global oil supply could exceed demand by around 600,000 barrels per day in 2025.

Putin, Saudi Crown Prince discuss Opec+ Cooperation: Kremlin

TEHRAN, Mar. 14 (MNA) – Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman agreed on the importance of upholding their OPEC+ commitments and discussed moves to bring peace to Ukraine during a phone call.

OPEC+ to raise output for first time since 2022

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries and its allies, a grouping known as OPEC+, has decided to go ahead with plans to increase its production in April after three years of imposing cuts.

Oil industry faces $17.4 trillion investment demand: OPEC SC

TEHRAN, Feb. 23 (MNA) – Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais says that the oil industry needs $17.4 trillion worth of investment.

Iran's heavy crude oil prices surge in January: OPEC

TEHRAN, Feb. 13 (MNA) – According to the latest monthly report from OPEC, Iran’s heavy crude oil prices rose significantly in January, increasing by $6.65, or 9.1%, compared to December, 2024.

Pres. Pezeshkian:

OPEC member states’ unity to neutralize US sanctions impact

TEHRAN, Feb. 05 (MNA) – Iranian President Masoud Pezeshkian says that unity and amity between member states of the Organization of Petroleum Exporting Countries (OPEC) will neutralize the US sanctions.

Iran min., OPEC chief visit Natl. Defense Coop. Exhibition

TEHRAN, Feb. 05 (MNA) –Iran Oil Minister Mohsen Paknejad and Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais visited National Defense Cooperation Development Exhibition at the Presidential Office on Wed.

Oil min. warns unilateral sanctions destabilize oil market

TEHRAN, Feb. 05 (MNA) – Iran’s Oil Minister Mohsen Paknejad met Secretary-General of Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais on Wed., saying unilateral sanctions against major oil producers threaten global energy market.

Oil falls amid US tariff pause on Mexico, Canada

TEHRAN, Feb. 04 (MNA) – Oil prices retreated on Tuesday as Donald Trump paused for a month a decision on steep tariffs on Mexico and Canada, the US' biggest foreign oil suppliers, while prospects of higher OPEC+ supplies from April also weighed.

Iran oil minister elected to OPEC presidency

TEHRAN, Dec. 10 (MNA) – Mohsen Paknejd, the Iranian oil minister, was elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.

Iran, OPEC Fund agree for presence of Iranian investors

TEHRAN, Nov. 26 (MNA) – Iran’s Minister of Economic Affairs and Finance Abdolnasser Hemmati, announced that Iran and the OPEC Fund have agreed to welcome Iranian private investors in joint projects.

OPEC+ countries extend oil production cuts

TEHRAN, Nov. 04 (MNA) – OPEC+ countries have decided to extend voluntary oil production cuts of 2.2 mln barrels per day until the end of December, according to a statement published on the group’s site.

OPEC reports slight increase in Iran oil output in September

TEHRAN, Oct. 15 (MNA) – Iran’s oil production continued to rise in September despite a global decline in output and restrictions imposed on the country’s exports because of US sanctions.

Iran remains OPEC 3rd biggest oil producer in August: Report

TEHRAN, Sep. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.277 million barrels per day (bpd) of crude oil in August, registering a 4,000-bpd increase compared to the previous month.

OPEC chief hails progress in Iran’s oil sector amid sanctions

TEHRAN, Sep. 05 (MNA) – OPEC Secretary General Haitham Al Ghais has acknowledged that Iran made significant progress in its oil industry in recent years despite crippling sanctions imposed on the country by the United States.

OPEC reports further increase in Iran’s oil output

TEHRAN, Aug. 13 (MNA)–Iranian oil output had reached an average of 3.271 million barrels per day (bpd) in July, up from 3.25 million bpd reported in June, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC).

OPEC hails Iran as a pioneer in oil industry heritage

TEHRAN, Jul. 18 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) commended Iran's outstanding role and announced that the Islamic Republic of Iran is a leading country in the oil industry heritage.

Iran produces 3.240 million oil bpd in June 2024

TEHRAN, Jul. 17 (MNA) – Iran produced 3.240 million barrels of oil per day (bpd) in June 2024, the EIA announced.

Iran’s crude oil price rises in H1 2024: OPEC

TEHRAN, Jul. 11 (MNA) – The latest report of the Organization of Petroleum Exporting Countries (OPEC) indicated that the average Iran's crude oil price increased $4.76 per barrel in the first half of the 2024 compared to the same period last year.

Iran becomes 4th largest oil exporter in OPEC: Report

TEHRAN, Jul. 02 (MNA) – Iran has risen to become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales.

Iranian crude exports rise, lifting its ranking in OPEC

TEHRAN, Jun. 29 (MNA) – Iran has overtaken Kuwait and Nigeria to be the fourth largest crude/condensate exporter of OPEC.

OPEC+ to resume voluntary production cuts from October 2024

TEHRAN, June 03 (MNA) – OPEC+ countries have decided to gradually resume voluntary production cuts from October 2024, the Russian government said after the OPEC+ ministerial meeting.

Iran becomes 2nd producer of liquid fuel in OPEC

TEHRAN, May 12 (MNA) – Overtaking Iraq, Iran has become the second producer of liquid fuel in the Organization of Petroleum Exporting Countries (OPEC).

Iran’s oil price, output surge in March 2024: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest monthly report has said that Iran’s oil production volume increased by 28,000 barrels per day (bpd) in March 2024.

Saudi Arabia raises May crude oil OSPs to Asian, Med buyers

TEHRAN, Apr. 07 (MNA) – Saudi Arabia has raised the official selling price (OSP) for its flagship Arab Light crude oil for customers in Asia and the Mediterranean in May, an Aramco statement showed on Friday.

For Q2;

OPEC+ nations extend voluntary oil output cuts by 2.2 mn bpd

TEHRAN, Apr. 01 (MNA) – Several countries participating in the OPEC+ agreement will continue voluntarily reducing oil production in Q2 by a total of almost 2.2 mln barrels per day.