The Iranian government had access to more than $7 billion worth of crude export revenues in the calendar year to late March, says a report publishedin the local media which indicates that the income helped the government avoid a hefty budget deficit which could exacerbate consumer price rises in the country. The Tuesday report by the semi-official ...

Demand is rising for Iranian crude oil, with an OPEC report showing a higher output already by Iran which is closely watched by customers as the country is discussing the removal of unilateral US sanctions. Irans oil production rose by 137,000 barrels per day to 2.3million bpd in March, marking the highest crude production growth among OPEC members,...

Reuters - Oil prices edged higher on Thursday supported by rising tensions between the West and Iran and a big decline in U.S. crude stockpiles, but gains were capped due to lingering worries about slowing economic growth that could reduce fuel demand. Brent crude futures LCOc1 settled 21 cents, or 0.33%, higher at $63.39 a barrel after hitting ...

The Wall Street Journal| Benoit Faucon, Summer SaidandSarah McFarlane: Saudi Arabia is moving to cut the worlds oil supply after U.S. government deals allowed hundreds of thousands of barrels a day of Iranian oil to flow onto world markets, driving down prices. The deals put Saudi Arabia at odds with Washington at a time when relations are already ...

Bloomberg | Heesu LeeandDebjit Chakraborty: Oil buyers who viewed Obama-era policies as precedent for U.S. sanctions on Iran are getting a rude shock. A Trump administration demand that oil purchases should stop has blindsided Asian importers who assumed they would only have to reduce shipments from the Persian Gulf state. Now, one after another,...

Tasnim A former deputy governor of the Central Bank of Iran said the country holds such a large supply of foreign exchange reserves that it could take care of economic issues for at least three years even without any oil revenues. In comments on Wednesday, Seyed Kamal Seyed-Ali said even a cut in Irans oil exports would not affect the countrys foreign-...

Bloomberg - South Korea has become the first of Irans top-three oil customers to fulfill a hard-line U.S. demand that buyers cut imports to zero. The Asian nation didnt import any crude from Iran last month, compared with 194,000 barrels a day in July, tanker-tracking and shipping data compiled by Bloomberg show. While bigger consumersChinaandIndia ...

S&P Global Platts - Japanese refiners need to make their own decisions regarding their imports of Iranian oil, Minister of Economy, Trade and Industry Hiroshige Seko said Tuesday when asked at a news conference if the government had provided any guidance to refiners on the matter. "I understand that this would basically, properly be judged by ...

Reuters - Removing Iranian oil from the global market by November as called for by the United States is impossible, an Iranian oil official told the semi-official Tasnim news agency on Wednesday. Iran exports a total of 2.5 million barrels per day of crude and condensate and eliminating it easily and in a period of a few months is impossible, the ...

MNA An oil tanker hauling Iranian crude is making the first delivery to Chile in at least 16 years. The Monte Toledo, a Suezmax-class tanker able to transport 1 million barrels, is due to reach the Pacific Coast port of San Vicente on July 12, according to signals from the ship. It exited the Persian Gulf earlier this month after loading at Kharg ...

MNA Irans light crude prices fell by 71 cents to be traded at 62.03 dollars per barrel in the week leading to December 08. The average figure for Iranian crude has been $51.73 since the beginning of the year 2017, the Iranian Ministry of Petroleum reported. Meanwhile, in the seven days leading to December 08, Irans light crude prices declined ...

Al Monitor | David Ramin Jalilvand: Ahead of the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting in ViennaNov. 30-Dec. 1, Iranian Oil Minister Bijan Namdar Zanganehexpressed hopethat production cuts that were agreed to last year would be extended. What was at stake, however, was more than energy markets.Zanganehand his ...

CNBC - The Iranian oil minister claimed that energy-related firms from the U.S. are the main losers from the sanctions placed against his country. Iran's oil-dominated economy has been hampered by sanctions put in place by the U.S. since the Iranian Revolution of 1979. In 2016, many restrictions were removed, but Washington has continued to bar ...

IFP - The US keeps pressuring the customers of Irans oil to prevent them from purchasing petroleum from the Islamic Republic. A study of the oil market shows US keeps exerting pressure on buyers of petroleum form Iran, so much so that Washington is ready to sell them oil at a cheaper price. The pressure made South Korea decrease its ...

MNA Iranian Oil Minister, while referring to Uzbekistans willingness to buy crude oil from Iran, said relevant negotiations will be pursued with the Central Asian country. Following a meeting with Minister of Foreign Affairs of the Republic of Uzbekistan, Abdulaziz Kamilov, on Tuesday, Irans Bijan Zanganeh stated that Uzbeks were after purchasing ...

MNA Indian ambassador to Tehran, while disavowing claims of a cut in his countrys oil purchases from Iran, said the oil sale process has become even more trouble-free thanks to improvements in banking ties. Speaking on the sidelines of Iran-India Economic Conference, Saurabh Kumar, Ambassador of India to Tehran said his countrys debts to non-...

CNBC | Gemma Acton: Millions of Iranians will head to the polls on Friday to choose their new president in an election being closely watched by traders due to the consequences at play for the country's nuclear deal and oil supply. Since the signing of the nuclear deal in 2015 in which Iran agreed to rein in elements of its nuclear program in exchange ...

Press TV- Figures show that Saudi Arabia has lost a significant share of South Koreas oil market to Iran. The latest market figures show that South Koreas imports of crude oil from Iran doubled in January. Preliminary customs data show that Iran exported around 1.79 million tons of crude oil to Asias fourth largest oil buyer in January. The ...

IRNA The Joint Comprehensive Plan Of Action (JCPOA) helped Iran sell much more oil, Chairman of Majlis (parliament) Foreign Policy and National Security Commission, Alaeddin Boroujerdi, said on Friday. Despite enemies economic war against Iran, we were able to increase oil export from 1 b/pd to 2.4 million b/pd by raising exploitation of oil fields,...

The Arab Weekly| Walid Khadduri: About a year ago, the Iran nuclear deal officially known as the Joint Comprehensive Plan of Action (JCPOA) was formally implemented. JCPOA was received by Iranians with hope of rebuilding the countrys energy industry, as well as providing an opportunity to regain the countrys share in world oil markets and access ...