Production of coal concentrate in Iran rose 19.8 percent in the first five months of the current Iranian year (March 21-August 22), compared to corresponding figure of the past year, according to the data released by Industry, Mine and Trade Ministry.
Figures by the Iranian government show demand for gasoline in the country rose by 20% this summer amid warnings by authorities that rising domestic demand could affect Iran’s fuel exports at a time the country faces foreign sanctions.
Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated.
The National Iranian Gas Company (NIGC) will add around 45 million cubic meters (mcm) per day to the country’s natural gas output in the year to March 2023, said the CEO of the state-run company as he indicated that Iran’s gas supply to Iraq and Turkey may increase in the future.
Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply.
Oil prices climbed on Tuesday as Shanghai's relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia.