EghtesadOnline: Forecasting the future of the oil market is crucial, especially for countries where oil export is the lifeblood of the economy and budgets are constructed, deconstructed and reconstructed depending on crude price and production.
EghtesadOnline: OPEC coalition decisions on further global oil market cooperation will be taken next week amid uncertainty over many factors impacting the industry, including Iranian crude export volumes, but Russian oil producers are ready to adjust their production accordingly, energy minister Alexander Novak said.
EghtesadOnline: Russia is committed to its domestic oil producers and it is a mistake to think that Moscow's current policy toward the oil market is a betrayal of Tehran's trust.
EghtesadOnline: Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.
EghtesadOnline: Oil rose for a second straight week as OPEC’s commitment to rebalance the market and geopolitical risks to global supplies overshadowed U.S. President Donald Trump’s tweet on “artificially Very High” prices.
EghtesadOnline: Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced.
EghtesadOnline: Iran’s Minister of Petroleum Bijan Zangeneh says a possible boycott of the Islamic Republic’s crude oil as sought by US President Donald Trump would affect the market.
EghtesadOnline: The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore stability, OPEC Secretary-General Mohammad Barkindo said.
EghtesadOnline: Oil extended gains as OPEC and its allies reiterated that all options are open to re-balance the market.
EghtesadOnline: Unenthusiastic about trading oil in the US dollar and South Korea's won, Iran wants more euro payments for the crude oil it sells to South Korea, Oil Minister Bijan Namdar Zanganeh said, signaling that Tehran supports a growing interest in moving away from dollar as the international currency in oil market.