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Iranian Oil Minister Elected as OPEC President

Wednesday, 11 December 2024 02:55
Mohsen Paknejad, the Iranian oil minister, has been elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for the upcoming year.

Iran Lifts Its Rank in OPEC

Saturday, 29 June 2024 14:58
Tehran (IP)- Iran has overtaken Kuwait and Nigeria to be the fourth largest crude/condensate exporter of OPEC.

OPEC Conveys Its Condolences on The Passing of Iranian President

Monday, 20 May 2024 16:07
Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), HE Haitham Al Ghais, issued a statement offering his condolences on the demise of the Iranian president, Ayatollah Ibrahim Raisi, who lost his life on Sunday in a chopper crash.

Kazakhstan to compensate for exceeding OPEC+ quota in March

Monday, 15 April 2024 20:39
Kazakhstan will compensate for exceeding its oil production quota under the OPEC+ agreement in March, the country’s Energy Ministry said in a statement on Sunday.

Iran's Owji, OPEC Secretary General discuss oil market

Saturday, 02 March 2024 18:17
Algiers (IP): Iran’s Oil Minister Javad Owji and OPEC Secretary General Haitham Al Ghais exchanged views on developments in the global oil market in Algiers, the capital of Algeria, on Saturday.

IEA: Iran accounts for 12% of OPEC nine-month revenues

Saturday, 20 January 2024 16:12
Tehran (IP)- Iran’s oil revenues neared $34 billion in the first nine months (January-September) of 2023 despite brutal U.S. sanctions, accounting for 12 percent of OPEC member states’ total income.

Oil slides as Saudi price cuts and incresing OPEC output

Monday, 08 January 2024 19:34
IP - Oil prices fell by more than 2% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East.

Brazil to join OPEC+, Petrobras CEO says

Saturday, 02 December 2023 18:54
The chief executive of state-run oil firm Petrobras said that Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group's coordinated output caps,.

OPEC+ to reduce oil production by 2.2 mln bpd

Friday, 01 December 2023 09:31
Vienna (IP) : A number of OPEC+ countries will voluntarily reduce oil production in the first quarter of 2024 by 2.2 million bpd, the organization said in a press release.

Brent oil slips toward $80 ahead of OPEC+ meeting

Monday, 27 November 2023 16:07
Oil prices slipped on Monday, with Brent falling toward $80 a barrel, as investors waited for an OPEC+ meeting later this week for an agreement expected to curb supplies into 2024.