EghtesadOnline: Iran has never been a threat to energy security, nor will it ever pose a risk to it, as insecurity in the region is against its national interests.
EghtesadOnline: OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend.
EghtesadOnline: Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as saying.
EghtesadOnline: A meeting in Algiers at the end of September between OPEC and Russia -- which together pump more than half the world’s oil -- has raised expectations that a deal could be struck to boost prices.
EghtesadOnline: Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices.
EghtesadOnline: Russia is open for talks with other major oil producers on freezing output as the market is unlikely to balance until next year, Energy Minister Alexander Novak said in an interview with Asharq Al-Awsat.
EghtesadOnline: Oil prices edged away from 5-week highs on Tuesday, with traders cashing in on a 16-percent rally since early August that has largely been fueled by talk of producers taking action to prop up the market.
EghtesadOnline: Oil producers are not betting on the recent price rally. In contrast, after surviving two years of low prices, they are gearing up for a third by buying protection against a renewed downturn.