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OPEC output hits new low as Saudi fails to offset losses in Iran, Venezuela
OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to US sanctions and other outages elsewhere in the group, a Reuters survey found.
Iran exempted from OPEC output cut: Zanganeh
Iranian Oil Minister Bijan Namdar Zanganeh hailed a Tuesday meeting of the Organization of the Petroleum Exporting Countries (OPEC) as “good” and said that Iran was again exempted from the oil output restrictions.
Kazakhstan: Iran, Venezuela sanctions may complicate global oil deal talks
Talks between OPEC and its allies next month about whether to extend their pact on cutting oil supplies “won’t be easy” and may be complicated by the situation facing Iran and Venezuela, Kazakh Energy Minister Kanat Bozumbayev said.
Persian Gulf OPEC producers to keep July production within current deal
OPEC’s oil producers from the Persian Gulf are not in a rush to increase production in July despite the fact that the current agreement expires at the end of June and the cartel and allies will discuss their future oil policy in the first days of July.
OPEC crude oil output shrinks in May: Survey
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran and Venezuela continue to see their output contract, an S&P Global Platts survey showed.
Iran has no plan to leave OPEC: Oil minister
Iranian Minister of Petroleum Bijan Zangeneh says Tehran has no plans to leave the Organization of the Petroleum Exporting Countries (OPEC), criticizing certain member states for politicizing the group to counter two OPEC founding members--Iran and Venezuela.
Zanganeh: Iran has no plans to exit OPEC
Iranian Minister of Petroleum Bijan Namdar Zanganeh said the country had no plans to exit the Organization of the Petroleum Exporting Countries.
Iran spurns Saudi-backed plan to change OPEC meet
Iran and several other OPEC members have opposed a proposal to reschedule the oil producing group’s next meeting later this month, reports said on Wednesday.
OPEC is poised to defy Trump once again by keeping a lid on oil output
Major oil-producing nations are leaning toward keeping a lid on production throughout 2019, defying President Donald Trump’s calls to open the taps and cut the cost of crude.
Oil prices surge on signs OPEC may extend output cuts by year-end
Oil prices have jumped at the beginning of the trading week after indications emerged from the Organization of the Petroleum Exporting Countries (OPEC) that the body may maintain production cuts until the end of 2019.
Oil rises after OPEC+ says to keep output cuts
Oil hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.
Oil producers support OPEC+ cut extension
Iraq backs an extension of the OPEC/non-OPEC production cut agreement, Thamir al-Ghadbhan, the country’s oil minister said on Sunday, while his Kuwaiti counterpart said current prices indicated the market was well-supplied, despite the US tightening sanctions on Iran.
OPEC sees more demand for its oil as it keeps cutting output
OPEC said that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
OPEC’s April oil supply down to 30.23 mbd
The Organization of Petroleum Exporting Countries, OPEC’s April supply dropped to 30.23 million barrels per day, mbd, showing a four-year low.

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