Oil Output Cut

CBI to provide $3 bln loan to NIOC for increase in oil output

TEHRAN, Sep. 16 (MNA) – The Central Bank of Iran (CBI) will issue a $3 billion loan to fund a plan by the country’s state oil company, NIOC, to increase oil production by 250,000 barrels per day (bpd) in the near future.

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.

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.