EghtesadOnline: Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment.
EghtesadOnline: Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed US crude stockpiles were down last week.
EghtesadOnline: It will take at least 15 years to clean up the environmental harm caused by the oil slick in Ardel Country in Chaharmahal-Bakhtiari Province where an old pipeline burst, head of the provincial office of the Department of Environment (DoE) said.
EghtesadOnline: The National Iranian Oil Company aims to produce 4.5 million barrels a day of oil and gas condensate in the next calendar year starting on March 21, the oil minister told lawmakers on Saturday.
EghtesadOnline: Oil prices fell on Monday as a continued surge in coronavirus cases globally forced a series of renewed lockdowns, including strict new measures in Southern California in the United States, the world’s top oil consumer.
EghtesadOnline: Return of normalcy to Iran’s oil export after US president-elect Joe Biden takes office in January and eases the economic siege is way off, a deputy head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture's Exports Commission said.
EghtesadOnline: OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year.
EghtesadOnline: The budget bill of fiscal 2021-22 has projected an export of 650,000 barrels per day of crude oil, the deputy head of Plan and Budget Organization said on Monday.
EghtesadOnline: Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns over weaker fuel demand due to growing coronavirus infections and higher production in Libya.
EghtesadOnline: Refineries in Iran are operating at full capacity converting two million barrels of crude oil into petroleum products a day, the secretary-general of Oil Refining Industry Cooperative Association said.