OPEC Deal

The Organization of Petroleum Exporting Countries will welcome Iran’s return to the oil market when the US sanctions are removed, the secretary-general of OPEC said.

Oil prices were broadly stable on Friday, as the market weighed in on conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting, a stronger US dollar and…

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…

OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non-OPEC allies including Russia taking a 400,000 barrel-a-day share.

Compliance across OPEC is in question amid conflicting interests regarding oil production cuts and an abrupt withdrawal announcement from Qatar. While the tiny Persian Gulf sheikhdom’s…

Iran pumped around 3.29 million barrels per day in October, down from 3.45 million bpd in September,  OPEC data shows.

According to OPEC secondary sources, Iran's average crude…

The Organization of the Petroleum Exporting Countries hasn't been effective in stabilizing oil prices, which have been more dependent on US shale production than the actions of the…

A majority of OPEC and allied oil exporters support a cut in the global supply of crude, Oman Oil Minister Mohammed bin Hamad al-Rumhi said on Sunday. 

Iran continues to adhere to a global agreement to scale back crude oil production as OPEC data on Monday showed further cuts in the country's monthly oil output.

The No. 3 OPEC…

Nearly a year into the production-cut deal that brought together major OPEC and non-OPEC oil producers, Oil Minister Bijan Namdar Zanganeh said there was no pressure on Iran to join the cuts.

The unexpectedly negative reaction of global markets to OPEC's decision on extending crude supply cuts into next year is temporary and prices will gain ground, says Iran's Oil Minister…

It is unlikely that Iran will reduce its crude oil output but will go along with an OPEC decision to extend supply cuts to help boost prices, Oil Minister Bijan Namdar Zanganeh said.

"Iran…

A prominent economist has welcomed an OPEC accord to cut crude output as a win-win deal that protects Iran's national interest, asserting that the agreement could set a precedent to resolve…