Posts Tagged ‘iran’

Oil Prices Fall on Rising Iraq Output and Doubt Over Producer Prospects

Monday, August 29th, 2016

Oil prices fell early on Monday (August 29) as output from Iraq rose and as Iran said it would only cooperate in upcoming producer talks to freeze output if fellow exporters recognised its right to fully regain market share.

International Brent crude oil futures LCOc1 were trading at $49.54 per barrel at 00.43 GMT, down 38 cents from their previous close.

U.S. West Texas Intermediate (WTI) crude futures were down 43 cents at $47.21 a barrel.

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Oil Price is Stabilising Even as Iran Plans to Boost Crude Exports

Monday, July 11th, 2016

Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co.

Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country has regained about 80 percent of the market share it held before the U.S. and European Union tightened sanctions on its oil industry in 2012, he said.

Sanctions were eased in January, and Iran plans to double crude exports.

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Iran Won’t Freeze Oil Output Ahead of OPEC Meeting

Monday, May 23rd, 2016

Iran, which is due to meet with OPEC partners on June 2, has no plan to join any freeze in crude output as the country won’t be done ramping up oil exports to pre-sanctions levels before the second half of the year, the head of the state oil company said.

The Persian Gulf state’s oil exports will likely surpass 2.2 million barrels a day by the middle of the summer, Rokneddin Javadi, managing director of National Iranian Oil Co., told Mehr news agency.

Iran last exported at this level before sanctions were imposed on the country for its nuclear program more than four years ago.

Sanctions were eased in January, and Iranian officials said they won’t discuss any output freeze or cut before reaching pre-sanctions levels.

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Stalled development in commodities temporary?

Tuesday, April 10th, 2012

Gold investmentCommodity prices have recently gone up widely, which has lead to that those who invested in the sector, not have been able to see their investments increase in value. But the last few days, oil prices as well as gold and copper have had its ups and downs. It is said to depend on if the oilstock in the U.S. and Europe reduces, but could also depend on the stable dollar.

Oil

The increasing oil price has been hampered in recent times. It has even declined slightly recently. The reason is said to be that the U.S. is considering to review its oil stocks, and maybe even release a part of this oil to the market, as well as the UK and France. It is in this case, a deliberate (more…)