Iran rep in OPEC: Will veto Saudi proposal
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.
Iran and US verbal dispute over oil
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.
Iran seeks OPEC support against U.S. sanctions: letter
Iran has asked OPEC to support it against new U.S. sanctions and signalled it is not yet in agreement with Saudi Arabia’s views on the possible need to increase global oil supplies, creating potential problems for OPEC at its meeting next month.
Iran on brink of signing deal with 15 oil companies
On 18 October 2017, in an interview with CNBC, Iran’s Deputy oil minister Amir Hossein Zamaninia said Iran was currently negotiating with more than 15 companies from Europe, Russia and Asia. The contracts would open the country to massive oil and gas exploration, development and production.
Korea increases import of Iranian oil
South Korea’s crude oil imports from Iran soared 47.7 percent in the first seven months of this year from the same period last year, customs data showed on Tuesday.