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

Iran'.s light and higher-value crude averaged $41 per barrel in 2016 and its heavy oil grade averaged $39.19.

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.

Iran is also looking to use the opportunity to push into new markets in Europe.

Iran won an exemption from the group'.s production cuts agreed to on Nov. 30 to raise output slightly.

Philippines was one of Iran'.s oil customers in the past and is now holding talks for restoring purchases from the OPEC-member oil producer

Libya reopened the Sharara field last month and the nation’s total pumping rate stood at 650.000 barrels a day.

The new IPC has more flexible terms that take into account oil price fluctuations and investment risks.

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.

BP had opted out of the bidding because of concerns over possible renewed US-Iran tensions after president-elect Donald Trump takes office on Jan. 20.

Transferring Iranian gas to Iraq is another subject which will be covered in the upcoming visit.