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As oil prices rally, old OPEC tensions set to rise
As members of the OPEC and its allies meet this week to discuss adjusting output, analysts expect old tensions between oil producer giants to flare up again.
Oil hits 13-month highs as market rebalances
Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in.
Oil market could absorb more Iran crude if US sanctions lifted: Iran’s OPEC governor
The oil market could absorb more crude oil from Iran if US sanctions are eased, according to Iran’s governor to OPEC.
Iran is OPEC’s biggest gasoline exporter: Official
A deputy oil minister said Iran needs to reduce domestic gasoline consumption by switching to vehicles fueled by compressed natural gas (CNG) in order to maintain its place as the largest exporter of gasoline in the Organization of the Petroleum Exporting Countries (OPEC).
Oil prices rise as producers commit to output restraint
Oil prices rose around 1% on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic.
Narrowing of OPEC+ cuts insignificant to global supply: Zanganeh
Iranian Oil Minister Bijan Namdar Zanganeh said a decision by an international grouping of oil producers known as OPEC+ to slightly narrow supply cuts agreed for January would not have a significant impact on global prices.
Oil hits 11-month high after Saudi Arabia pledges voluntary output cut
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed US crude stockpiles were down last week.
12th OPEC+ begins online meeting
The 12th meeting of the oil and energy ministers of the Organization of the Petroleum Exporting Countries (OPEC) and its allies began a few minutes ago via videoconference.
Iran says OPEC right to be cautious about fragile oil market
Iranian Oil Minister Bijan Namdar Zanganeh supported calls within the Organization of Petroleum Exporting Countries (OPEC) for continued cuts to global supply of crude, saying the oil cartel is right to be cautious about the future of a market which has been deeply affected by the spread of the coronavirus pandemic.
OPEC output rises more on Libya restart, Iraq export: Survey
OPEC oil output has risen for a fourth month in October, a Reuters survey found, as a restart of more Libyan installations and higher Iraqi exports offset full adherence by other members to an OPEC-led supply cut deal.
Iran’s refining capacity up by 24%, second-largest in OPEC: Report
Iran’s capacity for refining crude oil and other products has increased by nearly a fourth in the four years to 2020, to become the second-largest in the Organization of Petroleum Exporting Countries (OPEC).
OPEC: Oil demand will grow until late 2030s
OPEC expects global oil demand will exceed the pre-pandemic levels in 2022 and grow steadily until the late 2030s, when it will begin to plateau, the cartel said, in a major shift in its forecast that put a timeline to peak oil demand.

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