Tag Archives: Oil Market

Higher crude oil and gasoline stocks in the United States weighed on prices on Friday.

In November 2016. OPEC agreed to cut oil production by 1.2 million barrels per day to 32.5 million bpd.

Iran has gained many achievements in recent years. especially since the JCPOA implementation.

The oil price in the beginning of 2016 plunged to below $30. but currently it is around $55.

Iran earned around $25 billion from selling crude oil in its previous fiscal.

The country was already on the way to make a stronger oil market recovery.

Iran has ramped up oil exports to European customers to 710.000 barrels per day

Oil market sources said that they expect to see China’s imports of crude oil from Iran to surge to a record high in 2017.

The Vitol Iranian deal was signed in October and will come into effect this month. one of the sources who is based in Tehran said.

Major European companies including Royal Dutch Shell. BP. Total and Eni resumed buying Iran'.s crude oil last year as Iran ramped up oil sales to its traditional customers in Asia.