Tag Archives | oil prices

5 Reasons Iran will be able to wait out Low Oil Prices

By David Ramin Jalilvand, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian officials have repeatedly rebuffed calls by other oil producers to halt or cut production. Tehran appears determined to reclaim market share lost as a result of EU and US sanctions imposed in recent […]

Iran Rejects Oil Output Freeze

By John Lee. Iran has reportedly put off plans to join nations proposing a freeze on oil production. BBC News quotes Oil minister Bijan Zanganeh (pictured) as saying that Iran would only join discussions to cap output after its production reached four million barrels per day. Mr Zanganeh said: “I have already announced my view […]

Iran Expected to raise April Light Crude Prices

By John Lee. Reuters reports that Iran is expected to raise price of its flagship light crude for Asian buyers in April. Iran is expected to price its light crude at a discount of 50 cents to the average of Oman and Dubai quotes to Asia for the month, up 30 cents from March. This […]

Iran Moves to Tax its Way Out of Crisis

By Maysam Bizær, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Facing oil slump, Iran moves to tax its way out of crisis Amid warnings by some experts of the possibility of a further slump in oil prices in 2016, crude oil prices briefly hit […]

$40 p/b Oil Market Price for Next Year Budget

Iranian Minister of Petroleum Bijan Zangeneh (pictured) has said the government has suggested the closest figure to the current crude oil market price of around 40 dollars per barrel to draft next year’s budget (21 March 2017 – 20 March 2018). “It is not 35 dollars. So far, 40 dollars has been suggested as the […]

Next Year’s Budget based on $35-40 per Barrel

By John Lee. The Head of the Statistical Center of Iran said oil revenues for next year’s budget (21 March 2017 – 20 March 2018) have been based on a forecast of 35-to-40-dollar per barrel, with production being increased up to 2.5 million barrels per day. According to the Ministry of Petroleum, it is possible […]

Iran Targets Oil Exports, Regardless of Price

By John Lee. The Minister for Petroleum, Bijan Namdar Zanganeh (pictured), has reportedly said that Iran will raise its crude output by 500,000 barrels per day just few days after sanctions are lifted, regardless of the effect on the international prices. Iranian news agency IRNA quotes him as telling a press conference: “We are not […]