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Oil price war is reignited

Oil price war is reignited

Tsvetana AParaskova writes in Oil Price that the rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

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China-Iran business as usual, no harm to other countries

China-Iran business as usual, no harm to other countries

Reuters reports that China’s business and energy ties with Iran do not harm the interests of any other country, the country’s Foreign Ministry said, after U.S. President Donald Trump said companies doing business with Iran would be barred from the United States.

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Iranian Petroleum Minister's warning letter to OPEC

Iranian Petroleum Minister's warning letter to OPEC

Reuters UK reports that Iran’s oil minister said OPEC may need to hold an extraordinary meeting should the organisation of oil producers fail to prevent member countries from adjusting their crude production without approval, the Shana news agency reported on Wednesday.

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Iran critical of Russia and Saudi Arabia for oil ramp-up

Iran critical of Russia and Saudi Arabia for oil ramp-up

Benoit Faucon writes in the Morning Star that a senior Iranian energy official criticized Russia and Saudi Arabia for ramping up oil output, saying they were breaking a production agreement between OPEC and Moscow and would strengthen the U.S.'s effort to impose sanctions on Tehran.

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China will continue to by oil from Iran

China will continue to by oil from Iran

Bloomberg reports that the U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord.

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Mnuchin: US considers Iran sanction waivers

Mnuchin: US considers Iran sanction waivers

Lesley Wroughton writes in Reuters that the United States in certain cases will consider waivers for countries that need more time to wind down imports of oil from Iran as it seeks to avoid disrupting global oil markets while reimposing sanctions against Tehran, U.S. Treasury Secretary Steven Mnuchin said.  

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Iran is the solution to OPEC's problems

Iran is the solution to OPEC's problems

Julian Lee writes in Bloomberg LP that President Donald Trump has once again taken to Twitter to slam OPEC for driving up oil prices. The group is a useful scapegoat on which to pin the blame for rising gasoline prices at home, but getting it to pump more crude won’t bring them down for long.

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Zangeneh warns against violation of OPEC agreement

Zangeneh warns against violation of OPEC agreement

The Iranian Minister of Petroleum has written a letter to the rotating chairman of OPEC, announcing: “Any increase in production by any member of OPEC beyond the stated quotas is contrary to the agreement of the organization.”  

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Will Russia join US against Iran?

Will Russia join US against Iran?

Analysts say Perry could ask Novak to push the Vienna alliance with OPEC to add more oil to the world market since the amount they agreed to over the weekend is a bit "short."

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