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

Iran has continued its push toward retaining the oil market share as the country added more barrels to its daily production in January compared to the previous month, data published by OPEC showed. Iran’s crude oil output averaged 2.08 million barrels per day last month, an increase of 62,000 bpd …

Iran continues its march toward retaining the oil market share as the country added more barrels to its daily production in January compared to the previous month, data published by OPEC showed. Iran’s crude oil output averaged 2.08 million barrels per day last month, an increase of 62,000 bpd from …

Iraq said the OPEC+ oil cartel is unlikely to change its production policy at next month’s meeting and repeated promises to deliver overdue output cuts, even as the Arab nation’s economy reels. The group of crude exporters meets on March 4 and members will probably agree to keep output steady …

Iraq is committed to the OPEC+ output cuts and will only boost its future crude production if there is demand from international oil markets, a deputy oil minister told the state-run Iraqi News Agency Feb. 9. “Iraq is committed to the [OPEC+] agreement to cut production in light of the …

Iraqi Minister of Oil, Ihssan Abdul-Jabbar, considered setting a price of 80$ US/oil barrel suitable for Iraq to meet the federal budget’s expenditures. Abdul-Jabbar said in an interview with Shafaq News agency, “Iraq will export in 2021 about one billion and 100 million barrels of crude oil according to market …

The Iranian deputy oil minister said that the country has become the biggest petrol exporter among the OPEC countries by increasing production and thanks to COVID-19 pandemic restrictions. Speaking to the Iranian Tasnim news agency, Deputy Oil Minister Alireza Sadegh Abadi said that thanks to the restrictions imposed on the …

Iraq missed its own target to slash oil output to a six-year low and make up for breaching its OPEC quota. The group’s biggest producer after Saudi Arabia pumped 3.87mn barrels of crude a day last month, only 10,000 fewer than in December, according to a Bloomberg survey and tanker-tracking …

Oil hit its highest level in a year on Friday, closing in on $60 a barrel on economic revival hopes and supply curbs by producer group OPEC and its allies. New orders for U.S.-made goods rose more than expected in December, pointing to continued strength in manufacturing. The U.S. Congress …

The price of OPEC basket of thirteen crudes rose at $56.80 a barrel on Wednesday, compared with $55.13 the previous day, according to OPEC Secretariat calculations. Experts said OPEC rising prices are affected by Brent and US crude oil which also rose today hitting their highest in about a year …

Oil hit an 11-month high on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021. Brent crude futures were up 48 cents, or 0.8%, to $57.94 a barrel at 0839 …