Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices , while Tehran is stepping up output and exports despite U.S. sanctions.
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Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories.
The latest figures by the Organization of Petroleum Exporting Countries (OPEC) indicate that Iranian oil prices increased by an average of $6.1 per barrel in August.
Kuwait Oil Company's first offshore exploratory and drilling operations for oil and gas are expected to end in 2026, the state-owned firm's chief geologist said.
RoydadNaft – Oil output cuts which Saudi Arabia and Russia have extended to the end of 2023 will mean a substantial market deficit through the fourth…
RoydadNaft – Oil prices extended 10-month highs on Wednesday, driven by expectations that crude supply will remain tight for the rest of the year.
RoydadNaft – Iran’s Oil Minister Javad Owji on Wednesday said associated petroleum gas (APG) of 21 flares of East Karoun fields in southwestern province of Khuzestan…
Roydad Naft – The Trans Mountain oil pipeline expansion could be delayed by up to nine months if regulators do not approve a route deviation request, the…
Roydad Naft – Oil prices rose about 1% on Tuesday, boosted by a tighter supply outlook, and as producer group OPEC said major economies were faring better…
Roydad Naft – OPEC on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024 citing signs that major economies are…
Roydad Naft – Iran’s 13th administration has paid special attention to the development of supplementary industries and the completion of petrochemical value chain, said the deputy oil…
Roydad Naft – Russian crude accounted for a bigger slice of the Czech Republic’s oil imports in the first half, state oil pipeline operator MERO said on…
Roydad Naft – Saudi Aramco has notified at least five North Asian buyers that it will supply full contractual volumes of crude oil in October, sources with knowledge…
Roydad Naft – Oil prices edged lower on Monday after fresh Saudi and Russian crude output cuts had driven prices to 10-month highs last week.
Roydad Naft – Iran’s exports of oil to China hit an all-time record in August despite continued US pressure on the country, according to a report published…
Roydad Naft – Iran’s vice president for parliamentary affairs on Sunday said oil sales, export growth, tax collection, and Productivity Law enforcement have increased the government revenue.
Roydad Naft – Everyone has an opinion on oil. Some think it is the only thing to blame for climate change. Others say using oil can just…
Roydad Naft News Agency – IranPlast International Exhibition plays a major role in discovering export capacities and needs of the downstream industry, said National Petrochemical Company (NPC)…
Over the last few weeks, various reports have emerged on Iran’s increased crude oil sales. The most recent report by monitoring service TankerTrackers indicates that…
Roydad Naft News Agency – Saudi Arabia faces the risk of an economic contraction this year following its decision to extend crude production cuts, highlighting its still…