Tag Archives: Oil Minister

Saudi Arabia and Russia. the world'.s top two oil producers. agreed on Monday on the need to extend output cuts for nine months until March 2018.

Iraq is with the continuation of a reduction of oil production of OPEC nations and we will push in that direction.

Iran'.s priority for gas exports to Europe was to proceed with LNG.

Iraq is on board with extending the deal in the next OPEC meeting to help stabilize oil prices and balance the market.

Iran produced 3.77 million b d of crude in April.

Oil ministry is in talks with oil and gas giants for $70 billion worth of development projects.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

The oil market needs more time to start using up stored inventories. which are on the verge of declining.

The Organization of the Petroleum Exporting Countries (OPEC)meets this month to discuss oil supply policy.

Present volume of Iran’s crude output stands at 3.8 million barrels according to secondary sources.