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The latest news and views about Organisation of the Petroleum Exporting Countries (OPEC)

‘US JCPOA Pullout Costs Iran 2bn Barrels in Oil Exports Worth...

Iran’s oil minister says the US withdrawal from the 2015 nuclear deal in May 2018 deprived his country from exports of around two billion barrel of oil, worth some 120 billion dollars.

Too Soon to Talk about Iran’s Return to Oil Market: Minister

Iranian Petroleum Minister Bijan Namdar Zangeneh, who is visiting Moscow to discuss the latest developments in the global oil market, says it is still too early to talk about Tehran’s return to the market.

Iran Exempted from OPEC+ Output Cut Deal: Minister

The Iranian petroleum minister says Iran, along with Libya and Venezuela, has been exempted from cutting oil output as they are under sanctions.

OPEC Fund Earmarks $500,000 to Help Iran Fight COVID-19

The OPEC Fund for International Development has approved $500,000 in funding for Iran to help the country in its fight against the coronavirus.

Iran Says OPEC’s Friday Meeting among Its ‘Worst Ever’

Iranian Petroleum Minister Bijan Zangeneh says an OPEC meeting on Friday was one of the group’s “worst ever” after it failed to reach an agreement on more oil cuts.

Iran Says Exempted from OPEC Output Cut Deal

Iranian Oil Minister Bijan Namdar Zanganeh hailed a Tuesday meeting of the Organization of the Petroleum Exporting Countries (OPEC) as “good” and said the Islamic Republic was again exempted from the oil output restrictions.

Iran Proposes New Date for OPEC Meeting

Iran’s oil minister has disagreed with a plan to postpone an upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC), saying Iran would prefer July 10-12 if a new date is to be set for the gathering.

Impossible to Exclude Iran from Oil Market: OPEC

Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Sanusi Barkindo says it is not possible to exclude Iran from the oil market.

Iran Warns OPEC May Collapse If Members Use Oil as Weapon

Iranian Minister of Petroleum Bijan Zangeneh says a US bid to cut Iran’s oil exports to zero is a “pious hope,” warning countries using oil as a weapon about repercussions of further volatility in the global market.

Iran Says OPEC Agreement Deals Further Blow to US

Iranian President Hassan Rouhani says the US sustained another defeat after the member states of the Organization of the Petroleum Exporting Countries (OPEC) reached consensus on new cuts.