Oil

Iran could support deeper cuts in crude oil output of the Organization of the Petroleum Exporting Countries (OPEC) if a majority of the members agreed with it.

The U.S. is preparing to step up enforcement of international rules limiting sulfur in ship fuel.

OPEC and its allies. a grouping known as OPEC+. are scheduled to meet in Vienna on March 5-6.

The big question for energy market observers is whether the hysteria surrounding the Coronavirus has seeped over into oil demand forecasts and market sentiment.

OPEC producers in OPEC+ are currently discussing whether to meet earlier than their scheduled gathering in Vienna on March 5-6.

Iran’s gas exports to Iraq continued uninterrupted.

Iran has the capacity to produce 3.7 million barrels per day of crude oil.

Producers are weighing further output cuts and moving a planned policy meeting to February rather than March.

Chinese Ambassador to Iran Chang Hua reiterated his country’s support for Iran against the US sanctions and said the East Asian nation is the only country that buys oil from the Islamic Republic.

The production capacity of Darkhovin Oilfield had increased by 20.000 b d over the course of the past 12 months.