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News // Middle East and OPEC

High drama in Vienna causes some observers to think Saudis are bent on quashing output deal

By most counts, the long-standing rivalry between Saudi Arabia and Iran flared up again at the worst possible time, reportedly during the recent meeting among OPEC that was intended to pave the way for ratification of an oil output reduction deal later this month.

08 November 2016 , 18:00Neftegaz.RU6360

Russian Energy Minister discussed with OPEC SecGen the situation on the oil market

Russia is a crucial partner in addressing energy challenges and both sides are committed to stable oil markets, said OPEC Secretary General Mohammed Barkindo.

24 October 2016 , 15:31Neftegaz.RU6300

Total in search of win-win deals in Iran

Representative of France's energy giant Total says his company is seeking to strike win-win deals with Iran in order to transfer technical savvy and capital to the OPEC-member crude oil supplier.

24 October 2016 , 13:00Neftegaz.RU5360

Iran says $40/barrel enough for lucrative investments in its oil fields

 A senior Iranian oil official says the price of crude oil at about $40 per barrel would be enough for foreign developers to make lucrative investments in Iran's oil fields.

20 October 2016 , 10:11Neftegaz.RU7540

Russia says 6-month oil output freeze most efficient

Freezing global crude oil production for 6 months with an option for an extension would be the most appropriate and efficient way to rebalance the market, said Russia’s Energy Minister Alexander Novak.

18 October 2016 , 10:08Tsvetana ParaskovaNeftegaz.RU5800

Venezuela president about Russia and «new mechanism» for higher oil prices

The price of crude has recovered in the last days but the recent period of low oil prices has been deeply hurtful for producers like Venezuela who are heavily dependent on crude exports.

12 October 2016 , 14:26Neftegaz.RU6220

Putin: Russia will join Opec efforts to stem decline in crude oil price

Vladimir Putin said at the World Energy Congress in Istanbul that Russia will join the deal to cut global crude output.

11 October 2016 , 10:11Neftegaz.RU5850

Russia takes a swipe at OPEC freeze deal by maintaining price forecast at $40

Russia, whose economic future is said to revolve around crude prices at the $40 level, is maintaining its outlook that this price level will be the average in the next three years – despite oil climbing to near $50 in the wake of this week's Organization of the Petroleum Exporting Countries' deal to cut production.

04 October 2016 , 15:04Neftegaz.RU6640

Parliament supports plan for revival of Iran's share in oil market

The MP Amir Khojaste says the Parliament supports the plan for revival of Iran's share in the oil market.

04 October 2016 , 13:00Neftegaz.RU5780

Iran And Saudis: No freeze deal in Algeria, here's hoping for better luck in Vienna

Less than 24 hours before the freeze talks in Algeria get underway, Saudi Arabia and Iran have quashed any hopes for a deal to be made.

29 September 2016 , 12:00Neftegaz.RU6090

Russia: Oil production freeze not essential

It's not essential to use artificial action on the energy market to correct the imbalance between supply and demand, Russia's energy minister said from Algeria.

27 September 2016 , 17:00Daniel J. GraeberNeftegaz.Ru6490

Iran to attend key oil meeting in Algeria

Attending the 15th Ministerial Meeting of the International Energy Forum (IEF), Iranian oil minister will deliver a speech in the first session of the Forum.

26 September 2016 , 15:36Neftegaz.RU6110

OPEC Secretary General: Fair price necessary for oil market stabilization

If the oil price is fair for both supply and demand side, a stable oil market can be formed, Secretary General Mohammed Sanusi Barkindo said.

26 September 2016 , 13:00Neftegaz.RU7050

President Rouhani in Venezuela: Iran supports oil market stabilization

President Hassan Rouhani says Tehran supports any move for stabilization of the market and improvement of oil prices based on justice, fairness and observation of fair quota for the producing countries.

19 September 2016 , 13:00Neftegaz.RU7510

OPEC revises Russian oil output estimate higher

With oil production on pace to increase through the year, economists at OPEC said Russia's economy is already on a clear road to modest recovery.

13 September 2016 , 12:23Daniel J. GraeberNeftegaz.RU5720

Saudi and Algerian oil ministers to meet OPEC chief in Paris

The energy ministers of Saudi Arabia and Algeria will meet with OPEC’s top official as major oil producers continue to lay the ground for a potential deal to bolster crude prices in Algiers later this month.

09 September 2016 , 14:18Brian WilsonNeftegaz.RU5130

Iranian Minister of Petroleum: Iran supports any decision by oil producers to stabilize market

Iranian Minister of Petroleum Bijan Zangeneh said Iran would support any decision by crude oil producers that would bring stability back to the oil market.

07 September 2016 , 10:00Neftegaz.RU4670

Historic Saudi-Russian Oil Pact has «No Chance» of coming to anything, say critics

Like so much of the talk leading up to the OPEC freeze meeting later this month, news of Saudi Arabia and Russia agreeing to act together to stabilize oil looks good on paper – but critics dismiss it as just yet more lip service.

06 September 2016 , 16:20Ship&BunkerNeftegaz.RU6440

Seyed Mohsen Ghamsari: Based on demand, Iran ready to boost oil output to 4 mln bpd

Iran is ready to raise its oil production to 4 million barrels per day (bpd) in the next 2 to 3 months depending on market demand, said the director for international affairs at NIOC.

06 September 2016 , 14:15Neftegaz.RU7260

Saudi wants a freeze and prices north of $60, say OPEC/Industry sources

While skepticism has greeted Saudi Arabia's suggestion it will be more agreeable in the upcoming OPEC´s freeze talks, new rumours that it will support an output cap in order to maximize the profitability of its state-owned Aramco IPO are gaining traction.

02 September 2016 , 16:10Ship & BunkerNeftegaz.RU9850

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