Global Oil Price

IEA sees global oil market surplus for 2025

TEHRAN, Mar. 15 (MNA) — The International Energy Agency (IEA) has said global oil supply could exceed demand by around 600,000 barrels per day in 2025.

OPEC+ to raise output for first time since 2022

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries and its allies, a grouping known as OPEC+, has decided to go ahead with plans to increase its production in April after three years of imposing cuts.

IEF predicts:

Oil price to hit $100 with EU sanctions against Russia

TEHRAN, Nov. 02 (MNA) – The International Energy Forum (IEF) on Wednesday anticipated that oil price will reach $100 with the implementation of European Union’s sanctions against Russia.

Oil prices jump over 3% as OPEC+ mulls cuts of up to 1 mn bpd

TEHRAN, Oct. 03 (MNA) – Oil prices jumped more than 3 percent in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market.

OPEC sec. gen.:

Russia membership in OPEC+ vital for success of agreement

TEHRAN, Aug. 01 (MNA) – OPEC's new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement.

US weighs largest ever draw from emergency oil reserves

TEHRAN, Mar. 31 (MNA) – The Biden administration is considering releasing up to 180 million barrels of oil over several months from the Strategic Petroleum Reserve (SPR) in a bid to curb rising oil prices.