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

Tehran will never back down on its right to produce and export oil after the unilateral sanctions are lifted.

Russia is not an OPEC member. but it should be treated the way other OPEC members are treated.

The 14-member Organization of the Petroleum Exporting Countries (OPEC) agreed to deepen its output cuts in Vienna at the 177th OPEC meeting by 503.000 bd as of January 1. 2020 from 1.2 mbd to 1.703 mbd.

Following a short stay in the 7th OPEC+ meeting. Zangeneh told reporters that the negotiations were good and favorable results were obtained.

Aramco shares will begin to be trade publicly on Saudi stock exchange Tadawul next week.

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.