OPEC

OPEC reaches first deal to cut oil output since 2008

The world’s largest oil exporters agreed on Wednesday to cut output for the first time in eight years to erode a global supply overhang that has persisted for two years…

 
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OPEC

Oil may rise to $55 if all producers cooperate – Iran

Iranian Oil Minister Bijan Zanganeh expressed optimism on Saturday about an upcoming OPEC meeting and said crude prices could jump to $55 a barrel if an agreement is reached and…

 
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OPEC set for no deal as Iran rejects Saudi oil output offer

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find…

 
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Iran says Russian use of air base for Syria strikes over ‘for now’

Iran said on Monday that Russia has stopped using an Iranian air base for strikes in Syria, a week after Moscow announced that its fighter-bombers had flown from a base…

 
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Russia bombs Syrian militants from Iran base for first time

Russian bombers based in Iran on Tuesday struck militant targets inside Syria, the Russian Defence Ministry said, after Moscow deployed Russian aircraft to an Iranian air force base to widen…

 
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Oil Prices Fall Below $40 As OPEC Steps Up Production

Crude oil prices plunged 4% on Monday, sliding to $39.86 a barrel Monday. It’s the first time the price has been below $40 a barrel in nearly four months. Oil prices…

 
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