Pars Today
Mahammad Sanusi Barkindo, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), in a letter congratulated Iran’s Petroleum Minister Bijan Zanganeh for his reappointment.
Russia’s openness to deeper oil production cuts has generated optimism among OPEC members about a new push to clear a global supply glut.
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend until March 2018 an oil output cut deal that was sealed last year to help shore up prices.
Saudi Arabia says an agreement between world’s biggest oil producers to cut their production to help stabilize the market may have to be extended to ensure maximum results.
Oil-exporting cartel OPEC is confident that production cuts agreed with non-members to prop up prices will lead to a recovery in the market, its chief said on Wednesday.
Russia says it has cut oil output by 156,000 barrels per day as part of a deal reached in December between members of the Organization of the Petroleum Exporting Countries (OPEC) and other countries to slash global production by nearly 1.8 million barrels per day for six months.
Oil companies in Qatar and Kuwait have announced that they will reduce production levels as of the beginning of 2017.
The Organization of the Petroleum Exporting Countries (OPEC) is expected to clinch a deal with non-OPEC producers to reduce oil output.
President Hassan Rouhani says all member states of the Organization of the Petroleum Exporting Countries (OPEC) must make joint efforts to stabilize the global oil market and reverse a slump in prices following their landmark supply-cut deal.
Russia says it will participate in a meeting of OPEC and non-OPEC members amid fluctuating oil prices over doubts about the outcome of a recent agreement to slash production.