According to Reuters, OPEC has agreed to raise output by around 1 million bpd. Oil prices rose almost 3 percent on Friday as OPEC agreed a modest increase in output to compensate for losses in production at a time of rising global demand.
OPEC will seek agreement on Friday to boost oil output amid calls from major consumers to prevent a supply shortage and despite opposition from group member Iran, which faces export-crippling U.S. sanctions.
At a meeting with Syria’s Minister of Economy and Foreign Trade, Iran’s Central Bank (CBI) CEO welcomed the expansion of baking relations between the two countries and proposed a joint Iranian-Syrian bank.
Iran said on Tuesday OPEC was unlikely to reach a deal on oil output this week, setting the stage for a clash with Saudi Arabia and Russia, which are pushing to raise production steeply from July to meet growing global demand.
Reuters LONDON, reports on 19 June - The possible withdrawal of French oil major Total from Iran’s South Pars gas field has not slowed down the project, a senior Iranian official said, adding that Tehran is in talks with Russia’s Gazprom over the development of two other fields.
Bloomberg reports that Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.
The total index for the Tehran Stock Exchange reached 6 digits for the first time yesterday, with a single 3306-unit jump (the highest growth rate in its history). This is unprecedented in Iran’s stock exchange.
Reuters reports that the U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran.
The UK Ambassador to Tehran has met with Gholam-Hossein Shafe’ei, Head of Iran’s Parliament for the Private Sector, at the Chamber of Commerce in Tehran. Topics on the agenda were the JCPOA, bilateral trade, banking ties between Iran and the EU, and the UK Embassy plans to support SMEs.
The young 10-year old Iranian boy, Hossein Atayi Sangrudi from Karaj has already 16 inventions in his portfolio. Six of these are in the process of being registered. His inventions include the VTOL three-modality drones, gunboats, office furniture, miniature sprayer, multipurpose control for smart TVs, and so on.
In an interview with Persia Digest, Adib-Moghaddam said: It is imperative that Iran gets even closer to the EU, not least to keep the communication with Washington going, and to minimize misperceptions.
The German Schiller Group Concert is taking place in Tehran for the first time.
Christopher von Deylen, will be traveling to Tehran with his Group for the first time in mid-December to stage a concert at the Hall of the Ministry of the Interior over two nights on 11-12 December, at 21h30.
Parliament Speaker, Ali Larijani, in answer to a question asked by a reporter on the fate of Iran joining the Combatting the Financing of Terrorism (CFT) convention, said: “I will certainly ask the Leader’s opinion on the subject; we will act on the Supreme Leader’s expertise in Parliament.”