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Tag Archives: Iran

UN nuclear chief: Iran must honor deal ‘for many years’

UN nuclear chief: Iran must honor deal 'for many years'

VIENNA (AP) — The head of the U.N. nuclear agency suggests that Iran’s initial compliance with an atomic deal is only a first step, saying Tehran must continue to honor its commitments in the years ahead. International Atomic Energy Agency chief Yukiya Amano spoke Monday at the opening of the organization’s 35-nation board meeting. The IAEA is monitoring Iran’s compliance ...

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Global stocks gain as oil price extends recover

SEOUL, South Korea (AP) — Global stocks mostly posted strong gains on Thursday as a rebound in the price of oil and solid U.S. manufacturing data boosted investor sentiment. KEEPING SCORE: In Europe, Germany’s DAX was up 1.6 percent to 9,522.40 and France’s CAC 40 traded 0.8 percent higher at 4,266.89. But Britain’s FTSE 100 edged down 0.3 percent to ...

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Iran to boost oil output by 500,000 barrels

Iran map

TEHRAN, Iran — Iran is aiming to increase its oil production by 500,000 barrels per day now that sanctions have been lifted under a landmark nuclear deal with world powers, a top official said. In comments posted on the Oil Ministry’s website Monday, Deputy Oil Minister Roknoddin Javadi said Iran is determined to retake its share of the oil market, ...

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Iran official denies report of nuclear reactor being sealed

Iran official denies report of nuclear reactor being sealed

TEHRAN, Iran — Iran’s deputy nuclear chief on Tuesday denied a report that the core of the country’s nearly finished heavy water reactor has been dismantled and filled it with concrete as part of Tehran’s obligations under the nuclear deal with the West. Ali Asghar Zarean, in remarks to state TV said that Iran will first sign an agreement with ...

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Saudi-Iran split dashes chance of OPEC deal to curb oil glut

On November 28, 2014, following the OPEC (Organization of the Petroleum Exporting Countries) meeting, oil proceeded to plunge over 10 percent. At the meeting, OPEC decided not to cut production, in order to match demand, but continue to overproduce and drive the price lower. (Image: Day Donaldson via Flickr)

LONDON – The collapse in relations between Saudi Arabia and Iran after the Saudi execution of a Shi’ite cleric puts an end to speculation that OPEC could somehow agree production curbs to lift the price of oil anytime soon. A Reuters survey of OPEC production showed on Tuesday that Saudi Arabia ended 2015 with its output at full tilt, with ...

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Stubborn oversupply through 2016 to curb crude price recovery: poll

Stubborn oversupply through 2016 to curb oil price recovery: poll

Crude oil prices are unlikely to rally much in 2016 as subdued demand growth looks unable to absorb rising supply from the likes of Iran and Iraq, even though non-OPEC output is expected to moderate, a Reuters poll showed on Monday. The average 2016 price for benchmark North Sea Brent crude futures was forecast at $52.52 a barrel, $5.43 below ...

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Iran offers 50 oil projects to foreign investors: media

DUBAI  – Iran offered on Saturday about 50 oil and gas projects to be developed by foreign investors with local partners under a new scheme it hopes will initially generate $25 billion in investments, state media reported. Iran reached a deal with world powers in July, under which sanctions will be lifted in return for it scaling down its nuclear ...

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Stein’s law says oil prices will rise: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – “If something cannot go on forever, it will stop,” according to Herbert Stein, former chief economist to U.S. President Richard Nixon (“What I think: essays on economics, politics and life” 1998). Stein’s law is one of the most simple but important statements in economic theory, ...

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Iraqi oil selling at $30 as OPEC readies for new battles

LONDON/DUBAI – Iraq may increase oil output further in 2016, although less dramatically than this year, intensifying a battle for market share between OPEC members and non-OPEC rivals that has forced Baghdad to sell some crude grades for as little as $30 a barrel. Iraq’s output in 2015 has jumped almost 500,000 barrels per day (bpd), or 13 percent, according ...

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