Oil and Gas News | Oil and Gas Jobs | Oil and Gas Engineering
The Oil & Gas Hub
  • Main
  • News
  • Photo
  • Video
  • Oilfield Jobs
  • Learning Section
  • Oil & Gas Calculator

Iran Sees Positive Signals For OPEC's Output Cut Extension

2017.05.02
342

Iran's Oil Minister said April 29 OPEC and non-OPEC countries had given positive signals for an extension of output cuts, which Tehran would also back.

OPEC meets in May to discuss oil supply policy. Oil prices fell last week though they closed higher on April 28 on growing hope that OPEC might agree to extend production cuts long enough to reduce a global crude glut.

"During these last days we received a positive signal from OPEC members and non-OPEC contributors in this agreement for cutting the production for extending this agreement for the second half of 2017," minister Bijan Zanganeh told reporters.

Zanganeh blamed the U.S. for lack of foreign investment in Iran's energy sector, citing political pressure on international oil companies.

"They (U.S.) cannot stop us, anyone cannot stop our activities for developing oil and gas but ... they can reduce the acceleration of our activities," he said.

Under a deal reached in 2015, Tehran agreed to curb its nuclear program in exchange for lifting of most international sanctions imposed on the country.

But many foreign investors have continued to be put off by obstacles to doing business in Iran, including lingering unilateral U.S. sanctions.

Related Posts

 Oil and Gas: The Unsung Heroes of Modern Life
2023.10.15
211
Oil and Gas: The Unsung Heroes of Modern Life
Oil and gas are the lifeblood of the modern world. These resources have fueled our economies, revolu…
List of Oilfield Service Companies
2023.10.12
592
List of Oilfield Service Companies
Oilfield service companies provide essential services to the oil and gas industry, from exploration…
 The Art and Science of Offshore Drilling: Engineering Marvels That Power Our World
2023.10.12
197
The Art and Science of Offshore Drilling: Engineering Marvels That Power Our World
Offshore drilling is a complex and challenging operation that requires a wide range of engineering e…
Beyond the Rig: The Human Side of Oil and Gas Engineering
2023.10.10
259
Beyond the Rig: The Human Side of Oil and Gas Engineering
Oil and gas engineers, technicians, and field workers play a vital role in our world, despite the ch…
Market quotes are powered by TradingView.com
© Oil and Gas News | Oil and Gas Jobs | Oil and Gas Engineering, 2023
ADVERTISE  | Contact Us  | Privacy Policy  
Made in studio Zuber