Oil

Iran is firm in its self-proclaimed mission to reach pre-sanction levels of oil output and exports.

Joint projects will be implemented in the sectors of energy. transport and transit traffic.

Despite the supply adjustment. stocks have continued to rise. not just in the US. but also in Europe.

Azer is a joint field betüeen Iran Iraq. with 2.5 billion barrels of in-situ reserves and 16 percent recovery rate.

In 2017. non-OPEC oil supply is projected to grow by 0.40 million barrels per day.

According to OPEC’s deal. Iran was allowed to increase its oil output by 90.000 b d to 3.797 mb d in 1H17.

The market is bearish because sentiment has turned

Presidents of Iran and Russia have met six times in different occasions. including in the UN General Assembly meeting. so far.

Iran’s oil output is 976.000 b/d more than the 2015 average.

India'.s oil imports from Iran rose nearly 17% in February from a month earlier.