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The latest news and updates about Oil from trusted sources around the world.

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Editorial
Analyses: OPEC+ may increase oil production quotas at the upcoming meeting

Analyses: OPEC+ may increase oil production quotas at the upcoming meeting

🔶 The possibility of OPEC+ increasing oil production quotas Agence France-Presse, quoting a number of analysts, has reported on the likelihood that seven OPEC+ members will agree to increase oil production quotas at the organization’s meeting on Sunday, July 5. Saudi Arabia, Russia, and the five other members of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are expected to…

Iran 44 views 133d ago
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Editorial
Bloomberg report: Iran’s stranded oil and China’s reduced imports

Bloomberg report: Iran’s stranded oil and China’s reduced imports

Data from oil-tanker tracking companies shows that about 58 to 68 million barrels of Iranian oil remains adrift in Asian waters and is moving or stationary without a specific customer. Bloomberg writes that 90% of Iran’s oil stocks on the water have neither a particular customer nor oil tankers that indicate a specific destination. This comes as China, the Islamic Republic’s only oil customer during the sanctions…

Iran 171 views 133d ago
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Editorial
Iran’s oil production rises to 2.85 million barrels per day; still 500,000 fewer than before the war

Iran’s oil production rises to 2.85 million barrels per day; still 500,000 fewer than before the war

Iran’s oil production in the weeks after the reopening of the Strait of Hormuz has increased by about 500,000 barrels per day and has reached roughly 2.85 million barrels per day. However, Iran’s oil production is still estimated to be about 500,000 barrels per day lower than the level before the start of the war. At the same time, assessments by Bloomberg and Reuters indicate that OPEC member countries have also…

Iran 238 views 134d ago
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Editorial
Bloomberg and Reuters: OPEC oil production increased after the Hurmuz Strait obstruction was lifted

Bloomberg and Reuters: OPEC oil production increased after the Hurmuz Strait obstruction was lifted

Bloomberg and Reuters assessments of the immediate recovery of OPEC oil production following the lifting of the Islamic Republic’s blockade of the Strait of Hormuz. A Reuters review shows that last month OPEC’s daily oil production increased by 3.3 million barrels and, excluding the United Arab Emirates, which left this organization in May, reached 19 million and 430 thousand barrels. No report has yet been…

Iran 221 views 134d ago
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Editorial
Reuters: Iran is negotiating with Japanese companies to resume oil sales

Reuters: Iran is negotiating with Japanese companies to resume oil sales

🔶 Reuters: Iran is negotiating with Japanese companies to resume oil sales According to Reuters, on Friday, 12 Tir (July 3), citing three Iranian and Western sources, the Islamic Republic has begun negotiations with Japanese companies to resume oil sales. The talks are based on a U.S. sanctions waiver that allows Iran to restart oil sales. The waiver is part of a “60-day ceasefire for peace” between Tehran and…

Iran 85 views 134d ago
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