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

Iranian Minister of Petroleum Bijan Zangeneh said he had no problem with output cut. slamming unilateralism as the biggest problem in the Organization of the Petroleum Exporting Countries (OPEC).

OPEC member countries discussed the issue of cutting oil production at the session on July 1.

State oil giant Saudi Aramco sets its crude prices based on recommendations from customers.

Russia’s oil production averaged 11.126 million bpd between May 1 and 26.

The cuts had previously been agreed by Russia and OPEC kingpin Saudi Arabia at the G20 summit in Osaka last weekend.

Mr Barkindo was first elected as Secretary General of the bloc in 2016.

The Russian Ministry of Energy expects that OPEC+ countries will come to a consolidated decision on Tuesday.

Iranian Petroleum Minister Bijan Zangeneh in various meetings with his counterparts reviewed oil market development.

OPEC nations are bearing the burden of the market-share loss unevenly.

Iran is content with the current oil price but the country under US sanctions wants to boost oil exports.