Tag Archives: Iran

OPEC and its 10 non-OPEC partners have agreed to restore compliance with their production cuts to 100%.

In the wake of the last sanctions on Iran. financial institutions became very conservative.

Real increase would be smaller than the nominal gain of 1 million bpd. meaning a compromise with Iran remained possible.

The parties will discuss possible increase of oil production.

OPEC. together with other key producers including Russia. started withholding output in 2017 to prop up prices.

Zanganeh said that Iran would try to maintain its export levels in the face of US sanctions.

The condition means no other country has the right to compensate for another country’s oil production decrease.

World’s population will increase to more than 9 billion by 2050.

OPEC members and independent producers will meet in the Austrian capital. Vienna. on 22 June to discuss a future production policy.

Iran is negotiating with Russia’s Gazprom Company for the development of Azar and Changooleh oilfields shared between Iran and Iraq.