• 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.
  • South Korea intends to maintain trade with Iran: Ambassador
    The South Korean Ambassador to Tehran Ryu Jeong-hyun told Tasnim News Agency that his country intends to keep its economic ties with Iran as it keeps negotiating with the US to get sanctions waiver.
  • Hormuzgan annual export of non-oil goods hits $16.5b
    Products worth $16.5 billion were exported through the gates of the customs department of the Southern province of Hormuzgan in the last Iranian year (ended March 20), of which $2.7 billion were goods produced in the province.
  • Iran hopes new India gov’t will resume oil purchases: Envoy
    India’s sudden halting of crude oil imports came as a shock for long-standing strategic partner Iran, but Tehran believes purchases will resume as soon as a new government comes to office in New Delhi, Iranian Ambassador to India Ali Chegeni told ThePrint.
  • Iran-Czech Republic to widen economic ties
    Officials from Iran and the Czech Republic signed a memorandum of understanding (MoU) to strengthen economic cooperation in energy, car manufacturing and the rail transport sector.
  • 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.
  • Iran to offer petrochemical products in energy bourse
    Iran is due to offer 10,000 tons of light naphtha, 2,000 tons of heavy naphtha and large cargoes of petrochemical products to domestic buyers through its energy bourse on Sunday, in a direct sale to bypass unilateral US sanctions.
  • 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.
  • Iran’s crude exports over 250,000 bpd: Sources
    Iran has exported between 250,000 bpd and 500,000 bpd of oil so far in May despite US sanctions, according to two industry sources who track the flows.
  • Iran changes tactics, destinations on oil exports
    Iran has adopted new tactics and new destinations in shipping its oil exports following the reimposition of US sanctions, a senior Iranian maritime official said on Saturday.
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