Oil

The cash subsidy scheme has created a big hole in government finances.

Iran was the only country allowed to slightly boost output.

NIOC says a second list of qualified companies will be made available soon.

It was decided during the meeting that majority of members curtail production by a combined amount of 1.2 million barrels.

The average production of oil during the first 6 months of the year should stand at the established quota.

Riyadh will keep the oil output level at under 10 million barrels per day by the end of winter.

Iran has stepped up efforts in recent years to enhance its non-oil exports and reduce dependency on its oil revenues.

Three factors could pose major threats to the anticipated upsurge in global oil prices in 2017.

NIOC has widened the scope of exploration activities in the Persian Gulf.

The OPEC 171st session aiming at reviewing the oil freeze plan was held in Vienna on November 30.