Oil

.The price of OPEC basket of thirteen crudes stood at $53.92 a barrel on Feb.2

.World oil prices are rising on Feb.3 on threat of US imposing new sanctions on Iran

.The US imported about 3 million barrels a day from OPEC last year

.This oil transportation scheme was widely discussed between Kazakhstan and Azerbaijan in 2007 – 2008

Iran was exempted from an OPEC deal in January to reduce output by 1.2 million barrels per day (bpd)

.In 2015. Iran used to export less than half the amount of oil to India. so it stood at the seventh position

.The agreement on development of phase 11 of South Pars Gas Field is valued at 4.8 million dollars

30-thousand-barrel rise in daily production of South Azadegan oilfield by the end of the current Iranian calendar year

.Iran should be part of our supply chain

.The January drop in OPEC output has been offset slightly by higher supply from Libya and Nigeria