Oil Price

Russia rules out possibility of supplying oil at forced price

TEHRAN, Dec. 25 (MNA) – Russia will look for new markets and logistics even at higher costs so as not to supply oil at prices set by the West, Finance Minister Anton Siluanov said on Sunday.
2022-12-25 13:00
Report:

Moscow mulls 3 options to retaliate against EU price cap

TEHRAN, Dec. 07 (MNA) – Moscow is considering three possible options to respond to the introduction of a price cap on Russian oil by the EU and G7, a Russian newspaper reported.
2022-12-07 09:55
Venezuela's Maduro, opposition return to negotiation table

TEHRAN, Nov. 26 (MNA) – The government of Nicolas Maduro and the Venezuelan opposition are to restart political talks in Mexico on Saturday after a 15-month standoff.
2022-11-26 21:36
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.
2022-11-02 14:00
US Democrats want drastic punishments for Saudi Arabia

TEHRAN, Oct. 19 (MNA) – In wake of the troubled relationship between Washington and Riyadh, in recent days Democrats have called for more punitive measures against Saudi Arabia.
2022-10-19 15:30
Amid OPEC+ measure:

US to release 15M barrels from oil strategic reserve

TEHRAN, Oct. 19 (MNA) – After the OPEC+ decision to cut oil production, US President Biden is set to announce Wednesday that the US plans to draw 15 million barrels of oil out of its strategic stockpiles in December.
2022-10-19 13:40
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.
2022-10-03 12:50
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.
2022-08-01 10:40
Lavrov's Africa tour: Arab world really breaking up with West

TEHRAN, Jul. 26 (MNA) – Russian Foreign Minister's presence in Arab League meeting after Tehran and Jeddah summits has serious implications for the future of the Arab world's relations with the western countries, according to an analysis.
2022-07-26 16:45
Kazakhstan oil export to Europe through Russia halted

TEHRAN, Jul. 06 (MNA) – Due to possible environmental pollution found by Russia's federal transport watchdog Rostransnadzor, marine terminal of the Caspian Pipeline Consortium will be shut down for 30 days by order of a Novorossiysk district court.
2022-07-06 17:28
Russia’s Medvedev says oil prices could top $300-$400

TEHRAN, Jul. 05 (MNA) – Russia’s former president Dmitry Medvedev said Tuesday the oil prices could increase above $300-$400 a barrel if Japan caps the price of Russian oil at around half its current level.
2022-07-05 16:14
France wants Iran, Venezuela return to oil markets

TEHRAN, Jun. 27 (MNA) – France wants sanctions-hit Iran and Venezuela to return to the oil markets to ease the pressures from Russian sanctions that has spiked prices, a French presidency official said on Monday.
2022-06-27 17:53
Oil up due to tight US supply, declining China's reserves

TEHRAN, Sep. 24 (MNA) – Oil prices increased on Friday over ongoing supply shortfalls after two powerful hurricanes hit the US Gulf of Mexico and after China's first public sale of state crude reserves.
2021-09-24 20:00
Imran Khan:

Iran-Saudi Arabia understanding to be in favor of Pakistan

TEHRAN, Sep. 18 (MNA) – Stating that the tensions between Iran and Saudi Arabia are affecting oil prices Pakistani Prime Minister Imran Khan called the understanding between the two countries in favor of Pakistan.
2021-09-18 13:20
OPEC+ agrees on crude oil cuts

TEHRAN, Apr. 02 (MNA) – OPEC and its allies reached a consensus on Thursday on easing crude oil output cuts by 350,000 bpd for May and June, and by 450,000 bpd as of July.
2021-04-02 09:16
15th OPEC+ meeting kicks off virtually

TEHRAN, Apr. 01 (MNA) – The 15th meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping called OPEC+, began minutes ago via video conference.
2021-04-01 18:32
S. Arabia-Russia or US-Russia oil conflict? Golden age of oil over?

TEHRAN, Jun. 09 (MNA) – In an interview with Mehr news, international energy experts Chris Cook and Mahmood Khaghani answered several questions on the current status quo of the international oil market and its major role players. The experts also discussed the current conflicts among the petrodollar earners, i.e. the US, S. Arabia and Russia, and if the golden age of oil is over.
2020-06-09 14:41
Oil US tool to put pressure on China: energy expert

TEHRAN, Apr. 25 (MNA) – Monday, April 20 (2020), was a historic day for the oil market. West Texas Intermediate (WTI) closed below zero for the first time in the history of the oil market. President Trump's policies are considered as the main cause of the sharp prices fall and how he is using the factor to put pressure on its major rival, China, however, the fire will damage both producers and consumers in the long run.
2020-04-26 15:22
By: Salman Parviz

Historic fall in US oil prices amid virus outbreak

TEHRAN, Apr. 22 (MNA) – When the capital city of Tehran partially emerged out of the shutdown on Saturday, we witnessed some traffic on the roads for the first time after almost a month, since the beginning of Nowruz holidays. President Hassan Rouhani has refused to implement 24-hour lockdowns seen in other Middle Eastern countries.
2020-04-22 23:32
Iran to suffer less damage given its reduced reliance on crude oil: Rouhani

TEHRAN, Apr. 22 (MNA) – Emphasizing that all oil-rich countries, including Iran, have suffered losses, President Hassan Rouhani said that Iran will suffer less damage as its reliance on crude oil is less than other countries.
2020-04-22 12:47
Headlines of Iranian dailies on April 22

TEHRAN, Apr. 22 (MNA) – The English Desk of Mehr News Agency takes a look at some of the Iranian dailies’ headlines on Wednesday, April 22.
2020-04-22 09:16
Trump, coronavirus go hand in hand to make American crude valueless: energy expert

TEHRAN, Apr. 22 (MNA) – Monday, April 20, 2020 was a historic day for oil market. West Texas Intermediate (WTI) closed below zero for the first time. Mehr news conducted an interview with the Iranian president of Vienna Energy Research Group, Fereydoun Barkeshli to know why US oil is worth less than nothing under President Trump and coronavirus pandemic.
2020-04-21 22:04
US sanctions made Iran ready to face unprecedented oil prices fall: Jahangiri

TEHRAN, Apr. 21 (MNA) – First Vice President Es’hagh Jahangiri said on Tuesday that due to the US sanctions, Iran is in readiness for coping with the unprecedented drop in oil prices.
2020-04-21 19:00
US oil drops below $3 per barrel as demand disappears

TEHRAN, Apr. 20 (MNA) –A key American oil benchmark, West Texas Intermediate, fell by more than 80% on Monday as global oil markets continue to grapple with a pandemic-driven collapse in demand.
2020-04-20 22:16
US oil price plunges to its lowest in 21 years

TEHRAN, Apr. 20 (MNA) – Crude oil futures fell on Monday, with US futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that US storage facilities will soon fill to the brim amid the coronavirus pandemic.
2020-04-20 10:30
Oil price surges following OPEC+ meeting

TEHRAN, Apr. 09 (MNA) – Oil prices have reported a dramatic surge during the meeting of OPEC+ members, according to trading data.
2020-04-09 20:20
Chairman of London Energy Club:

Russia, Iran, Venezuela can team up to confront US, SA triggered oil price war

TEHRAN, Mar. 14 (MNA) – Mehmet Ogutcu, Chairman of London Energy Club believes that while the USA, Saudi Arabia, and the Persian Gulf countries can work together in the coming period to influence the markets, Russia can team up with important OPEC producers such as Iran and Venezuela and assume the leadership of non-OPEC producers.
2020-03-14 14:41
Oil price crashes 30% as markets open

TEHRAN, Mar. 09 (MNA) – Oil prices crashed as much as 30% within seconds of the market opening on Sunday evening after the Organization of the Petroleum Exporting Countries (OPEC) failed to strike a deal on output cut on Friday.
2020-03-09 11:15
Zanganeh points to necessity of market balance following coronavirus outbreak

TEHRAN, Feb. 03 (MNA) – Iranian Oil Minister Bijan Zanganeh referred to decreased demand for oil following spread of coronavirus outbreak in China, noting that countries must put effort to ensure the market balance.
2020-02-03 16:36