Energy Policy

Nowadays, the black gold experiences a dark time and sharp fall of oil price has cast a shadow on the political economy sector to show that the world’s economy is not going well.

Emphasizing that all oil-rich countries, including Iran, have suffered losses, President Hassan Rouhani said that Iran will suffer less damage as its reliance on crude oil is less than other countries.

The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed. Following the carnage of negative WTI prices on April 20, and a growing realisation about pressure on storage, the energy watchdog’s head Fatih Birol set out 3 steps. The …

Oil producer countries should respect crude production cuts aimed at stabilizing the oil market, Iranian Oil Minister Bijan Zanganeh told state TV on Wednesday. “The market will stabilize gradually if the oil production cut is respected by all the producer countries … Cooperation is necessary under this circumstances,” Zanganeh said. …

Azerbaijan’s Energy Minister Parviz Shahbazov has attended the informal video conference with the participation of several OPEC+ countries, the ministry told Trend. According to the ministry, the current state of the world oil market and the implementation of commitments since May have been discussed at the conference. During the discussions, …

Countries participating in the OPEC+ oil production limiting agreement have all the capabilities to respond if necessary to the situation with the low oil prices, Russian Energy Minister Alexander Novak told reporters. “OPEC+ countries are keeping a close eye on the situation and have all the capabilities to respond if …

The Russian government will use the available resources to mitigate the negative effects of falling world oil prices on the Russian economy, Russian Presidential Spokesperson Dmitry Peskov told reporters on Tuesday. “The main thing here is that our government, our leadership has all the necessary reserves to dampen the negative …

A bill on Agreement between Islamic Republic of Iran and Afghanistan on International Railway Communications, signed and sealed by the Iranian President Hassan Rouhani, was sent to the Parliament on Monday.

President Donald Trump said he wants to add as much as 75 million barrels of oil to the nation’s Strategic Petroleum Reserve, taking advantage of record low prices for crude, and that he’ll consider blocking imports of crude from Saudi Arabia. Oil is at “a level that’s very interesting to …

Iran's Ambassador and Permanent Representative to the United Nations Majid Takht-Ravanchi reacted to the US’ nervous claims against Iran's arms activities, saying such moves are only meant to divert attention from Washington’s economic terrorism against the Iranian nation.