Iran News


U.S. Ready to Facilitate Maritime Border Dispute Talks Between Israel and Lebanon

Apr 15, 2021

The United States stands ready to facilitate maritime border talks between Lebanon and Israel that will have benefits for the crisis-hit Lebanese economy, a U.S. envoy said on Thursday.On a visit to Beirut, Under Secretary of State David Hale…

Oil Falls Below $64 on Rising Iran, OPEC+ Production

Apr 05, 2021

Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021.The Organization of the Petroleum Exporting Countries and allies…

Brent Tops $70 after Houthi Attack on Saudi Oil Export Hub

Mar 08, 2021

Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security…

Brent Oil Price Hits $60 Boosted by Supply Cuts, U.S. Stimulus Hopes

Feb 08, 2021

Oil prices rose on Monday to their highest in just over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can boost demand.Brent was up 68 cents…

Oil Prices Jump 5% on OPEC+ Output Talks, Iran Tension

Jan 05, 2021

Oil prices climbed nearly 5% on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output, while international political tension simmered over Iran's seizure of a South Korean vessel.Brent crude futures rose $2.51, or 4…

Iran Says it Exported as Much as 700,000 bpd of Oil Since March

Nov 11, 2020

Iran's oil exports averaged 600,000 to 700,000 barrels per day (bpd) since March despite U.S. sanctions on its energy industry, an Iranian official said on Wednesday, far exceeding estimates by agencies monitoring the country's crude sales.One…

Woodmac: Five Effects of a Biden Administration on US Energy

Nov 09, 2020

Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change.He will enter the White House with a goal of setting the US on course for net zero…

Once an American Foe, Now a Friend: OPEC Turns 60

Sep 14, 2020

In 1973, Arab members of the Organization of Petroleum Exporting Countries brought the U.S. economy to its knees. Now, the cartel created 60 years ago is more likely to do Washington's bidding.Since Saudi Arabia and other Arab OPEC members imposed their famous oil embargo as retribution for U…

Rystad: Covid-19 Brings Peak Oil Date Closer

Jun 18, 2020

The Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result, reducing the world’s recoverable oil by around 282 billion barrels, Rystad Energy said in its annual global energy outlook released this week…

Iran's South Pars Field Tops 700 MCM/Day Output

Apr 07, 2020

Daily gas production at Iran's South Pars field reached more than 700 million cubic meters (mcm) per day in the last Iranian calendar year, the head of the Pars Oil and Gas Company (POGC) said on Sunday, according to the official IRNA news agency…

New Platform Boosts Iran's Oil Output

Mar 16, 2020

Iran's oil production capacity increased by 6,000 barrels per day after a platform was installed at the offshore Salman field in the Gulf, the official news agency IRNA reported on Saturday, citing Alireza Salmanzadeh, head of the Iranian Offshore Oil Company…

Iran to Boost Gas Output Capacity with New Offshore Platform

Feb 26, 2020

Iran will be able to produce more than 1 billion cubic meters (bcm) of gas per day once the final platform is installed at the South Pars offshore field, its oil minister was quoted as saying on Monday by the official IRIB news agency.South Pars…

Iran Goes Solo at South Pars Field as Total, CNPC Pull Out

Jan 27, 2020

Iran’s Petropars will develop phase 11 of South Pars, the world’s largest gas field, after the withdrawal of French oil major Total and the China National Petroleum Corp (CNPC), Iran’s oil minister was quoted as saying on Saturday. “Now with the exit of the other two companies from the contract…

Oil Prices Rise Ahead Of Trade Deal, Likely Stock Draw

Jan 14, 2020

Oil prices edged higher on Tuesday as investors focused on the signing of a preliminary trade deal between the United States and China, the world's top oil consumers, and on expectations of a drawdown in U.S. crude oil inventories.However, price gains were capped by receding Middle East tensions…

Oil Prices Fall Further as Threat of Middle East War Recedes

Jan 10, 2020

Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East receded and investors switched attention to economic growth prospects and the rise in U.S. crude oil and product inventories.Brent crude fell 20 cents…

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