Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

The Iranian Minister of Petroleum left Tehran for Vienna on Thursday morning to join the OPEC Conference.

The current agreement is due to expire in March but there’s speculation that the group could opt to cut further if Russia agrees.

Zanganeh did not speak to reporters upon arrival in Vienna for the OPEC summit.

The challenge for OPEC+ is the strong supply growth elsewhere in the world.

All OPEC+ members have agreed with the recommendation not to include gas condensate numbers in the overall oil output.

Iraq. the second-largest oil producer of OPEC'.s 14 members. is also one of its most chronic over-producers.

Existing supply curbs of 1.2 million barrels per day. aimed at supporting oil prices and preventing a global glut. are set to expire in March.

Speaking on behalf of the Iranian nation. I would say this is the right of our people and nation and I would not agree with cutting even a barrel of oil for illogical reasons.

ompletion and operation of the Persian Gulf Star Refinery. as the largest gas condensate refinery in the world.

Only a few days is left before the unveiling of a big decision which will mostly determine the future of oil market in the upcoming year.