Japan used to be a major customer of Iran’s energy market but the country drastically reduced its energy imports during the years that Tehran was under international sanctions. However, with the removal of the sanctions, Japan has once again joined the main importers of Iran’s energy.
Iranian petroleum minister says the Islamic Republic’s doors are open to American firms if President Donald Trump allows them to do business with Iran.
While Iran’s nuclear deal is grabbing the international headlines, oil market experts are mainly concerned with the internal divisions in Iraq, particularly the conflict over the secession of Iraqi Kurdistan as the main element which can influence the global oil prices.
An Iranian lawmaker said the real oil price is more than $70 per barrel, and urged the OPEC’s member states to agree on adopting an effective strategy in their upcoming meeting in Vienna to raise the crude value by preserving the balance in oil production.
Commander of the Islamic Revolution Guards Corps (IRGC) declared that Iran will celebrate its self-sufficiency in the production of petroleum after the inauguration of the world’s largest gas condensate refinery in coming days.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says the decrease in global oil prices was leverage to exert pressure on countries that are independent from the United States.
The general manager of Bushehr Province Department of Ports and Maritime Organization said some 240 foreign oil supertankers have so far docked at Iran’s southern Kharg oil terminal since the implementation of a lasting nuclear deal between Tehran and world powers.
After a considerable temperature rise, Saudi Arabia’s crude oil exports have dramatically declined as the country’s power plants must consume higher amounts of crude oil to cope with the increased demand of the hot season.
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.
A meeting of oil and energy ministers of Iran, Iraq, Venezuela, and Qatar started here on Wednesday to discuss solutions to save the global crude oil prices to stabilize the market.
Deputy Oil Minister Rokneddin Javadi said on Sunday that production of Iran's crude oil increased 400,000 barrel each day and the figure is expected to increase by another 200,000 barrels.
Mohsen Renani, a university professor, says he does not buy arguments that Saudi Arabia has refused to reduce its output only to undermine Russia, Syria and Iran.
