OPEC

Iran oil minister elected to OPEC presidency

TEHRAN, Dec. 10 (MNA) – Mohsen Paknejd, the Iranian oil minister, was elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.

Iran, OPEC Fund agree for presence of Iranian investors

TEHRAN, Nov. 26 (MNA) – Iran’s Minister of Economic Affairs and Finance Abdolnasser Hemmati, announced that Iran and the OPEC Fund have agreed to welcome Iranian private investors in joint projects.

OPEC+ countries extend oil production cuts

TEHRAN, Nov. 04 (MNA) – OPEC+ countries have decided to extend voluntary oil production cuts of 2.2 mln barrels per day until the end of December, according to a statement published on the group’s site.

OPEC reports slight increase in Iran oil output in September

TEHRAN, Oct. 15 (MNA) – Iran’s oil production continued to rise in September despite a global decline in output and restrictions imposed on the country’s exports because of US sanctions.

Iran remains OPEC 3rd biggest oil producer in August: Report

TEHRAN, Sep. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.277 million barrels per day (bpd) of crude oil in August, registering a 4,000-bpd increase compared to the previous month.

OPEC chief hails progress in Iran’s oil sector amid sanctions

TEHRAN, Sep. 05 (MNA) – OPEC Secretary General Haitham Al Ghais has acknowledged that Iran made significant progress in its oil industry in recent years despite crippling sanctions imposed on the country by the United States.

OPEC reports further increase in Iran’s oil output

TEHRAN, Aug. 13 (MNA)–Iranian oil output had reached an average of 3.271 million barrels per day (bpd) in July, up from 3.25 million bpd reported in June, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC).

OPEC hails Iran as a pioneer in oil industry heritage

TEHRAN, Jul. 18 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) commended Iran's outstanding role and announced that the Islamic Republic of Iran is a leading country in the oil industry heritage.

Iran produces 3.240 million oil bpd in June 2024

TEHRAN, Jul. 17 (MNA) – Iran produced 3.240 million barrels of oil per day (bpd) in June 2024, the EIA announced.

Iran’s crude oil price rises in H1 2024: OPEC

TEHRAN, Jul. 11 (MNA) – The latest report of the Organization of Petroleum Exporting Countries (OPEC) indicated that the average Iran's crude oil price increased $4.76 per barrel in the first half of the 2024 compared to the same period last year.

Iran becomes 4th largest oil exporter in OPEC: Report

TEHRAN, Jul. 02 (MNA) – Iran has risen to become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales.

Iranian crude exports rise, lifting its ranking in OPEC

TEHRAN, Jun. 29 (MNA) – Iran has overtaken Kuwait and Nigeria to be the fourth largest crude/condensate exporter of OPEC.

OPEC+ to resume voluntary production cuts from October 2024

TEHRAN, June 03 (MNA) – OPEC+ countries have decided to gradually resume voluntary production cuts from October 2024, the Russian government said after the OPEC+ ministerial meeting.

Iran becomes 2nd producer of liquid fuel in OPEC

TEHRAN, May 12 (MNA) – Overtaking Iraq, Iran has become the second producer of liquid fuel in the Organization of Petroleum Exporting Countries (OPEC).

Iran’s oil price, output surge in March 2024: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest monthly report has said that Iran’s oil production volume increased by 28,000 barrels per day (bpd) in March 2024.

Saudi Arabia raises May crude oil OSPs to Asian, Med buyers

TEHRAN, Apr. 07 (MNA) – Saudi Arabia has raised the official selling price (OSP) for its flagship Arab Light crude oil for customers in Asia and the Mediterranean in May, an Aramco statement showed on Friday.

For Q2;

OPEC+ nations extend voluntary oil output cuts by 2.2 mn bpd

TEHRAN, Apr. 01 (MNA) – Several countries participating in the OPEC+ agreement will continue voluntarily reducing oil production in Q2 by a total of almost 2.2 mln barrels per day.

OPEC+ extends oil output cuts to 2024 2nd quarter

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries (OPEC), along with 10 other nations together known as OPEC Plus agreed on Sunday to extend output cuts of 2.2 million barrels per day into the second quarter of 2024.

Iran has potential to become energy hub in region: Raeisi

TEHRAN, Mar. 02 (MNA) – President Ebrahim Raeisi said on Saturday that Iran intends to play a role in the global gas market given its huge reserves of natural gas, transit potential, and advanced technology.

IEA:

Iran’s oil revenues hit $34 bn in 9-month period in 2023

TEHRAN, Jan. 20 (MNA) – Iran’s oil revenues in the first nine months of last year (January to September 2023) reached $34 billion, accounting for 12% of OPEC member states’ total oil income.

Iran ranks first in 2023 oil production rise in OPEC

TEHRAN, Jan. 15 (MNA) – The US Department of Energy has announced that Iran stood in first place among OPEC members in terms of 2023 oil production growth by raising its daily oil production by 330,000 barrels.

until end of 1Q 2024;

OPEC+ begins voluntarily reducing oil output by 2.2 mln bpd

TEHRAN, Jan. 02 (MNA) – Several OPEC+ countries, including Saudi Arabia and Russia, have begun voluntarily reducing their oil production by an aggregate additional volume of 2.2 mln barrels per day (bpd) in January.

Iran’s November oil output rises 7,000 bpd: OPEC

TEHRAN, Dec. 16 (MNA) – Iran produced 3.128 million barrels per day (bpd) of crude oil in November, registering a 7,000 bpd increase compared to the previous month, according to OPEC’s latest monthly report.

Putin to visit Saudi Arabia, UAE with Gaza war on agenda

TEHRAN, Dec. 06 (MNA) – Russian President Vladimir Putin is scheduled to visit the United Arab Emirates and Saudi Arabia on Wednesday.

OPEC+ agrees to deepen voluntary oil output cuts

TEHRAN, Dec. 01 (MNA) – OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.

Iran’s oil output hits 3.1 mn bpd in October: EIA

TEHRAN, Nov. 29 (MNA) – The US Energy Information Administration in its latest report announced that Iran produced 3.1 million barrels of oil per day in October 2023, stabilizing its third place in the Organization of Petroleum Exporting Countries.

Venezuelan FM:

Caracas to back OPEC measures encouraging dialogue in region

TEHRAN, Nov. 19 (MNA) –  Caracas will support any possible measures in OPEC to encourage Israel and Palestine to launch a dialogue, Venezuelan Foreign Minister Yvan Gil Pinto said.

Iran’s oil output tops 3 million bpd in October: OPEC

TEHRAN, Nov. 14 (MNA) – Iran’s crude oil production volume in October 2023 reached 3.115 million barrels per day (bpd), showing a 46,000-barrel hike compared to a month earlier.

Iran’s oil revenues up 67% to $42.6 bn in 2022: OPEC

TEHRAN, Jul. 23 (MNA) – Figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iranian oil export revenues rose by 67% last year despite continued pressure of American sanctions on the country.