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S.Korea's Dec Iranian crude oil imports drop over 30 pct y/y

Mon Jan 15, 2018 08:25:55

South Korea’s imports of Iranian crude oil dropped 30.6 percent in December from the year before, while inbound shipments from the Middle Eastern nation over the whole of 2017 jumped by 29.1 percent, customs data showed on Monday.

Saudi economy shrinks for first time in 8 years

Wed Dec 20, 2017 08:45:24

Riyadh also posted a higher-than-expected budget deficit in 2017 and forecast another shortfall next year for the fifth year in a row due to the drop in oil revenues.

Iranian oil minister moves to forge new regional partnerships

Wed Dec 13, 2017 09:45:13

At the recent OPEC meeting, Iran moved to protect its oil production and forge new regional partnerships.

Brent crude jumps above $65 for 1st time since 2015 after North Sea pipeline outage

Tue Dec 12, 2017 08:41:13

The market reaction shows that in a tight market, any supply issue will quickly be reflected in higher prices.

Saudi oil minister in Iraq to boost economic bonds

Sun Oct 22, 2017 11:48:10

Saudi Arabia has taken a step forward in what appears to be a strategy to cement economic relations with Iraq.

OPEC and non-OPEC nations poised to extend output cuts

Thu May 25, 2017 15:05:34

OPEC and other oil nations meeting Thursday appeared set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived.

EU to start first-ever energy forum with Iran

Fri Apr 28, 2017 18:14:47

The European Union's energy commissioner headed to Iran to strengthen ties following a growth in trade ties in response to the easing of sanctions.

Oil Prices Down 5 Percent in January as Rising US Output Offsets OPEC-Led Cuts

Tue Jan 31, 2017 12:06:50

Brent crude oil prices fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an effort to prop up the market.

Iran Cashing in on OPEC Oil Output Cut

Sat Jan 7, 2017 12:31:40

Iran has managed to sell nearly half of oil that it had long held on tankers at sea as it capitalizes on OPEC oil cut to sell millions of barrels, courting new customers around the globe.

Oil Tops $55 for First Time in 16 Months as OPEC Deal Fuels Buying

Mon Dec 5, 2016 17:04:12

Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, on rising prospects of a tightening market after OPEC members agreed on a landmark deal to cut production last week.

Some Countries Use Oil As Weapon in Full Coordination with US Policies: Leader

Sat Oct 22, 2016 22:35:50

Ayatollah Khamenei has said that the issue of oil has been used to exert pressure on countries that are independent from the United States and to impose the current problems on such countries as well.

Iran – Oil – Economy Iran Wants Pre-Sanctions Oil Market Share: Iran Oil Minister

Fri Aug 26, 2016 12:10:34

Iran wants its pre-sanctions share of the crude oil market, Oil Minister Bijan Zanganeh said Friday ahead of an informal OPEC meeting on global output.

Aerial Footage: United States, Allies Carry out Airstrikes against ISIS in Iraq

Thu Aug 25, 2016 16:10:42

The United States Department of Defense released footage on Wednesday (August 24) that it said showed coalition air strikes on Islamic State (ISIS / Daesh / ISIL) targets in Iraq, the Combined Joint Task Force said.

Libya Oil Wells at the Danger of Attacks by Daesh Experienced Terrorists

Mon Apr 11, 2016 14:32:35

ISIS have deployed a large group of fighters at several strategic oil fields with fears that the terror group is planning a deadly attack on foreign workers as well as oil wells.

URGENT, Saudi Arabia, Russia Agree Oil Output Freeze: Qatari Minister

Tue Feb 16, 2016 13:15:21

Energy giants Saudi Arabia and Russia agreed Tuesday to freeze oil output at January levels during a meeting in Doha, the Qatari oil minister said, AFP reported.

Oil Falls below $28 a Barrel for First Time in 12 Years: Report

Wed Jan 20, 2016 19:03:02

As a result of gloomy economic forecasts as well as continued economic slowdown in China and abundant crude supplies, the global oil prices have decreased to below USD 28 a barrel for the first time in past 12 years.

Five Challenges Will Trouble Saudi Arabia in 2016, Internal and External Factors

Wed Dec 23, 2015 11:30:31

These 5 Facts Explain Saudi Arabia’s Challenging 2015.A war in Yemen and a rising rivalry with Iran has put the Middle Eastern power on the defensive. Will 2016 be any better? TIMES reports.

Iran Insists on ‘Right’ to Raise Oil Output: Oil Minister Zanganeh

Thu Dec 3, 2015 14:35:59

Iran will not bow to pressure and avoid increasing its oil output following the lifting of sanctions despite slumping crude prices, its oil minister said here Thursday.

Minister: Vienna Conference Will Boost Iran's Market

Wed Jul 22, 2015 17:07:37

Iran's minister of economic affairs and finance announced that an international conference on investment in Iran will be held in Vienna later this week, which would provide an opportunity for European investors to actively work in Iran's lucrative market, Al-Alam News Network reports.

Zanganeh: OPEC Unlikely to Change Output Ceiling

Sun May 24, 2015 12:12:57

OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister, Bijan Zanganeh, said on Sunday.

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