There is enough oil in global stockpiles to replace barrels Saudi Arabia had temporary lost due to the attacks.
Read More »Iran Enjoying $1bln Foreign Trade Surplus
Iran has posted a more-than-$1-billion foreign trade surplus for the 1-year period ending August 20. according to the data released by the country’s Customs Administration (IRICA).
Read More »Oil Prices Rise after Attacks Halve Saudi Output
A sharp rise in oil prices also comes at a delicate time for the global economy.
Read More »Saudi Supply Disruption Puts U.S. Oil Reserve in Play
The emergency stockpile is stored in huge underground salt caverns along the U.S. Gulf Coast.
Read More »Geopolitical Risks Highlights Fragile Oil Supply Chain
The demonstration of the oil sector’s vulnerability hasn’t come at a good time for the Saudis.
Read More »Iran. Russia Discuss Closer Nuclear Cooperation
Iran and the Group 5+1 on July 14. 2015. reached a conclusion over the text of the JCPOA.
Read More »Iran Poised to Further Indigenize Industrial Needs
Iran’s Minister of Industry Reza Rahmani announced that his country is planning to lower the imports of machinery and equipment used in major production lines. in a bid to further indigenize manufacturing capabilities in the face of the US sanctions.
Read More »Iran Raps Europe for Not Delivering on Economic Promises
Iranian Interior Minister Abdolreza Rahmani Fazli criticized the European countries for not following through with their economic commitments to Tehran.
Read More »Sanctions Failed to Stop Iran’s Oil Industry
Iranian Oil Minister Bijan Zanganeh said that US sanctions have failed to stop Iran’s oil industry.
Read More »Non-Oil Exports Up by 6%
The Plan and Budget Organization of Iran (PBO) announced that the country’s non-oil exports. including petrochemicals and condensates. exceeded $44 billion in the year ending March 2019. posting a 5.9% rise in comparison with figures from 2013.
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