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Oil Price Soars as OPEC Members Agree on Output Cut

Oil price has surged to one-month high after OPEC agreed to reduce its output by more than 1 million barrels a day.

Iran’s Oil Output at Highest Level in 5 Years

The latest market figures show that Iran’s oil production has already hit the highest level in the past five years – what could mark a major achievement for the country only months after the removal of sanctions in January.

IEA says Iran’s Oil Output Rose Faster than Expected

The International Energy Agency (IEA) announced on Thursday that Iran’s oil production has risen faster than expected, reaching levels not seen since before the Western sanctions against the country were tightened in 2011.

Iran Says Ready to Join Oil Freeze Plan

Iran said on Friday that it is ready to join an oil freeze plan that has been proposed by several key peer producers to help stabilize the market.

Iran oil exports surpasses 2 million bpd

Iran has sharply raised oil exports since the lifting of sanctions in January, with the sales of crude and condensate standing over 2 million barrels per day, Minister of Petroleum Bijan Zangeneh says.

Iran’s oil production up 100k bpd

The latest market figures show Iran’s oil production rose by 100,000 barrels per day (bpd) in March – a yet another sign of the country’s positive performance after the removal of multiple-year sanctions.

Iran Supports Moves to Improve Oil Price: Zangeneh

Iranian Minister of Petroleum Bijan Zangeneh said Tehran supports any move to stabilize the situation in the international crude oil market and improve the price of the product.

Austria’s OMV to help double Iran’s oil, gas output

Iran says it plans to use the help of Austrian energy giant OMV to increase production at its oil and gas reservoirs.

Iran oil to hit 4.7 million bpd ‘soon’

Iran has the biggest hydrocarbon reserves in the world and deems itself responsible for the world’s energy security, said Zanganeh.

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