Iran

The United States is reviewing existing sanctions waivers which provide Iran with any degree of economic assistance, and the U.S. State Department spokesperson stated on Thursday that the United States was urging the Iraqi Government to eliminate their dependence on Iranian energy sources as soon as they can. At her first press briefing as the spokesperson for President Donald Trump, Tammy Bruce responded to a question about whether or not a waiver of sanctions that allows Iraqi electricity payments to Iran would be renewed. She said, "We don't have anything to announce regarding the current electricity exemption that expires (on)...

Iraq's oil minister announced on Monday that it is awaiting Turkey's approval before restarting the oil flow out of the Iraqi Kurdistan Region. Hayan Abdel Ghani, a reporter, said that he hoped to have the Kurdish oil exported in two days. When asked about the timing of Iraq's return to oil exports, he replied that "this issue would be resolved in a week." Kurdistan regional government announced on Sunday that the Iraqi Kurdistan officials have agreed to resume Kurdish crude oil exports, based on volumes available. In March 2023, the pipeline was shut down by Turkey after the International Chamber...

The SHANA news outlet of the Ministry reported that Iran's Oil Minister said unilateral sanctions against crude producers would destabilise the energy markets. This was after U.S. president Donald Trump stated he would try to drive Tehran's exports of oil to zero. "Depoliticising of the oil market is vital for energy security." Mohsen Paknejad, OPEC's Secretary General Haitham Al Ghais said that unilateral sanctions and pressure against major oil producers will destabilise the oil and energy market and harm consumers worldwide. Paknejad made his comments after Trump restored the Iranian president's rights. "maximum pressure" Campaign against Iran, which includes efforts...

A U.S. official revealed that Donald Trump plans to resume his "maximum-pressure" campaign against Iran on Tuesday in order to prevent Tehran from obtaining nuclear weapons and to drive its oil exports to zero. This move returns the U.S. to its tough policy towards Iran, which Trump, as a Republican Republican, had practiced during his first term. Trump accused his Democratic predecessor Joe Biden of reducing the U.S.'s resolve towards Iran. Trump said in his campaign that Biden’s policy of not strictly enforcing sanctions on oil exports had weakened Washington, and emboldened Tehran. This allowed Tehran to sell oil, collect...

Saudi Arabia's. foreign minister stated on Tuesday he did not see Donald Trump's. new administration increasing the danger of an IsraelIran. dispute, attending to a problem the area has actually feared since the. start of Israel's war in Gaza. Prince Faisal bin Farhan Al Saud also stated in Davos that he. hoped President Trump's method to Iran would be consulted with a. willingness by Tehran to favorably engage with the U.S. administration and address the problem of its nuclear programme. Certainly a war in between Iran and Israel, any war in our. area is something we ought to try to...

China faces a squeeze on materials of cheap Iranian crude, that make up about 13% of imports by the world's greatest purchaser of oil, if Donald Trump ramps up enforcement of sanctions on Tehran after his return as U.S. president in January. Trump, who won Tuesday's election, Edison Research study predicted, is anticipated during his second term to re-impose his optimal pressure policy of heightened sanctions on Iran's oil industry over concerns about its nuclear programme, say Iranian, Arab and Western authorities. Such a move would raise the expense of China's imports, piling pressure on a refining sector coming to...

Discounts on Iranian crude oil sold to China are at their tightest in around five years as lower exports drive up rates in the middle of issues that Middle East stress may interrupt supply, trading sources stated. The discount rates are the narrowest considering that Chinese independent refiners, known as teapots, stepped in as purchasers in late 2019, filling a vacuum left by the nation's state refiners wary of sanctions renewed on Iran by the United States a year previously. Greater costs or a decrease in Iranian oil flows, which comprise 10% of China's unrefined imports, would depress currently low...

Discounts on Iranian crude oil sold to China are at their tightest in around 5 years as lower exports drive up rates amidst issues that Middle East tensions might interrupt supply, trading sources stated. The discounts are the narrowest considering that Chinese independent refiners, called teapots, stepped in as purchasers in late 2019, filling a vacuum left by the country's state refiners cautious of sanctions renewed on Iran by the United States a year previously. Greater rates or a reduction in Iranian oil flows, which comprise 10% of China's unrefined imports, would depress currently low production at independent plants and...

Gulf states are lobbying Washington to stop Israel from attacking Iran's oil sites since they are concerned their own oil facilities could come under fire from Tehran's proxies if the conflict intensifies, 3 Gulf sources informed Reuters. As part of their efforts to prevent being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are likewise declining to let Israel fly over their airspace for any attack on Iran and have actually conveyed this to Washington, the 3 sources close to government circles stated. Israel has guaranteed Iran will pay for its missile attack...

With a rifle by his side, Supreme Leader Ayatollah Ali Khamenei appeared in public on Friday for the very first time since Iran's most current rocket attack on Israel, describing the strike as genuine punishment for what he called Israeli crimes. Providing his very first Friday prayers preaching in almost 5 years, Khamenei said resistance versus Israel in the region would not pull back even with the killing of its leaders. Every so often his hand grasped the barrel of a rifle that stood to his left. Khamenei periodically speaks in public with a rifle at his side, a practice...

Democratic U.S. President Joe Biden said on Thursday he will not negotiate in public when asked if he had prompted Israel not to attack Iran's oil facilities. WHY IT'S IMPORTANT Israel has actually been weighing options to react to Tehran's. ballistic missile attack on Tuesday. The U.S. said then it would. deal with Israel to make certain Iran faced severe consequences. Biden previously in the day added to a surge in worldwide. oil rates when he said Washington was discussing strikes on. Iran's oil centers. A U.S. authorities later on said Washington. does not believe Israel has decided yet how...

Israel ought to not be allowed to attack countries in the Iranaligned Axis of Resistance one after the other, Iranian President Masoud Pezeshkian said on Sunday. Israel stated it had bombed Houthi targets in Yemen on Sunday, broadening its confrontation with Iran's allies in the area after killing the Hezbollah leader Sayyed Hassan Nasrallah on Friday in an intensifying dispute in Lebanon Pezeshkian, in remarks carried by state media, stated Lebanon. need to be supported. Lebanese fighters need to not be left alone in this fight so that the Zionist routine (Israel) does not assault Axis of Resistance nations one...

The International Energy Agency reported in its monthly report on the oil market that global oil supply may exceed demand this year by 600,000 barrels a day. This follows a downward revision of its demand growth forecast for 2025. The Paris-based agency stated that the surplus could increase by 400,000 bpd if OPEC+ continues to unwind its output cuts and fails in reining in overproduction against quotas. Calculations based on IEA figures show that the IEA’s February oil report suggested a slightly smaller surplus of about 500,000 bpd. The IEA has revised its forecast for oil demand growth in 2025...

Eight OPEC+ sources have said that OPEC+ members are debating whether or not to increase oil production in April, as planned, or to freeze it, as they struggle to understand the global supply situation due to new U.S. sanctions against Venezuela, Iran, and Russia. OPEC+ confirms its policy of supply a month in advance, so that buyers have enough time to order crude. The group has until the end of March to decide on its April production, but some sources claim that no consensus has yet been reached. Several sources have said that the United Arab Emirates would also like...

A survey shows that OPEC's oil production fell for a second consecutive month in January. This was due to a decline in exports, primarily from Nigeria and Iran, which offset a recovery in the United Arab Emirates, where maintenance on fields had reduced output in December. According to a survey released on Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) pumped 26,53 million barrels of oil per day in December, a decrease of 50,000 bpd compared with the revised December total. Nigeria and Iran saw the biggest drops. The modest drop in production came at a time when the...

China's crude oil imports are set to rebound in November after sharp price cuts increased demand for Iraqi and Saudi oil, offsetting a drop in Iranian supply, according to experts, traders and shiptracking data. A downturn of 17% in global oil rates in the 3rd quarter likewise stimulated Chinese stockpiling demand while refiners prepare for greater seasonal fuel usage ahead of the Lunar New Year vacation looking in late January, analysts say. The November rebound in volumes for the world's leading crude oil importer comes after 6 successive months of yearly declines as Chinese refiners dealt with weak margins and...

Federal governments around the globe are ploughing billions of dollars into fossil fuel subsidies to shelter people from higher energy costs, but that comes at a. financial burden, develops ineffectiveness, and obstructs the objective of. decreasing total usage. At the U.N.'s COP29 environment top in Baku, conversations are. continuous over decreasing distortions and inefficiencies produced by. aids - a crucial to decrease the production and use of fossil. fuels, which contribute significantly to climate modification and. pollution. JUST HOW MUCH DO GOVERNMENTS SPEND ON FOSSIL FUELS? The International Energy Company (IEA) computed that fossil. fuel consumption aids stood at $620...

U.S. Defense Secretary Lloyd Austin said on Wednesday that he had not seen proof that there was a Hezbollah bunker filled with cash developed under a. medical facility in Beirut, adding that Washington would continue to. work with Israel to get a better insights. Israel's armed force said that Hezbollah has stashed hundreds. of countless dollars in money and gold in a bunker developed under. a health center in Beirut, adding that it would not strike the. center as it maintains attacks against the group's financial. possessions. We have not seen evidence of that at this moment. But, you. know,...

President Masoud Pezeshkian stated in a video released on Tuesday that fuel subsidies made no sense in Iran, a significant oil producer with a having a hard time economy that has actually faced protests in the past over price hikes. There is no rationality in the reality that we buy gasoline with free enterprise dollar rates and we offer it with a subsidised price, Pezeshkian, elected in July, stated in a video broadcast by state media. Our economic experts and experts ought to withstand these wrong policies. Iran's new oil minister, Mohsen Paknejad, said recently that there is presently no...

Rising international oil inventories through April due to soft fuel need may strengthen the case for OPEC+ producers to keep supply cuts in location when they fulfill on June 2, OPEC+ delegates and analysts state. OPEC+ - the Company of the Petroleum Exporting Nations (OPEC) and allies led by Russia - satisfies on Sunday to go over supply policy and whether to extend voluntary cuts. OPEC+ sources stated previously this month that manufacturers could preserve the output decreases. The quantity of oil that major consuming countries hold in storage varies with supply and need and is a market gauge of...

Investors were ending up being gradually more bullish towards crude oil and improved petroleum products even before Iran launched an extraordinary wave of missiles and drones towards Israel. Hedge funds and other money managers purchased the equivalent of 32 million barrels in the six most important petroleum futures and choices agreements over the seven days to April 9. Positions were reported to the U.S. Commodity Futures Trading Commission and ICE Futures Europe days before the Iranian attack on April 13-14. Fund supervisors had actually been net buyers in 11 of the last 17 weeks, buying an overall of 478 million...

Japanese oil refiners see no immediate impact from escalating stress in the Middle East on their unrefined procurement, but will utilize the nation's reserves in case of contingencies to make sure steady oil products, the industry group's head said. We do not think that there are any barriers to the procurement of petroleum to Japan for now, Shunichi Kito, the president of Petroleum Association of Japan (PAJ), told a news conference on Wednesday, when asked about the impact of the Iranian counter-attack on Israel over the weekend. Kito acknowledged that if the dispute were to intensify and affect the wider...

Iran's unmatched rocket and drone strike on Israel is not likely to trigger significant sanctions action on Iran's oil exports from the Biden administration due to fret about boosting oil costs and angering top purchaser China, said experts. Shortly after Tehran introduced its weekend attack - retaliation for Israel's believed April 1 strike on the Iranian consulate in Damascus - Home Republican politician leaders accused President Joe Biden of stopping working to implement existing procedures and said they would use up today a series of expenses to sharpen sanctions on Iran. Speaking With Fox News on Sunday, Agent Steve Scalise...