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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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Macron & Trump discussion on Iran trade

Macron & Trump discussion on Iran trade

Reuters reports on 11 August 2018 that the U.S. President Donald Trump spoke on Friday with French President Emmanuel Macron and they discussed trade, Iran and the Middle East, the White House said.

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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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Iran test-fires short-range anti-ship missiles

Iran test-fires short-range anti-ship missiles

Reuters writes on 11 August 2017 that Iran test-fired a short-range anti-ship missile in the Strait of Hormuz during naval drills last week that Washington believes were aimed at sending a message as the United States reimposes sanctions on Tehran, a U.S. official said on Friday.

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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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 Turkey: We will continue trade with Iran

Turkey: We will continue trade with Iran

The Turkish Minister of Energy and Natural Resources has responded to reimposed US sanctions against Iran by saying: “Trade with Tehran will continue. Sanctions by Washington against Iran are unilateral.”

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Zarif: Iran oil exports will continue

Zarif: Iran oil exports will continue

Reuters writes that a U.S. plan to reduce Iran’s oil exports to zero will not succeed, Iranian Foreign Minister Mohammad Javad Zarif was cited as saying by an Iranian newspaper on Wednesday.

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Iranian economy in trouble without sanctions

Iranian economy in trouble without sanctions

Krishnadev Calamur writes in The Atlantic on 6 August that the first set of U.S. sanctions on Iran prompted by the Trump administration’s withdrawal last May from the nuclear agreement goes into effect Monday, adding to pressure on the already hobbled Iranian economy.

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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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Sanctions and buyers of Iran's oil market

Sanctions and buyers of Iran's oil market

In three months’ time, U.S. sanctions on Iran are due to enter into force that could drive the Persian Gulf  nation’s exports down toward zero and upend the global oil market. There are already signs that it will be harder for the country to export, as some international insurers stop covering shipments.

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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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