Oil prices rose on Wednesday, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support.
Brent oil rose 80 cents, or 1.3%, to $63.50 a barrel....
Oil prices rose more than $1 on Monday, supported by optimism over Covid-19 vaccinations, a US stimulus package and growing factory activity in Europe despite restrictions imposed to curb the coronavirus.
Brent crude was up $1.08 or 1.7% to $65.50 per barrel, and US West Texas Intermediate crude...
The OPEC+ group of producers’ compliance with the oil output cuts in January hit 103%, higher than the estimated compliance in December.
In December 2020, the OPEC+ coalition saw its overall compliance with the original production adjustments at 101%, OPEC said at the end of the February monthly...
Arya Sasol Polymer Company (ASPC) earned $620 million in sales in the first 11 months of the current Persian calendar year (March 2020-Feb 2021), which was up 95% compared to the same period last year.
Regarding the volume of sales in the domestic and international markets, the company reported...
The steam unit of Chabahar Power Plant in Sistan-Baluchestan Province will come online by the end of spring. With the launch of the unit with 160 MW capacity, total capacity of the station in southeast Iran will reach 575 MW.
The power plant is located 15 km from Chabahar on the road to...
Oil prices fell on Friday as a collapse in bond prices led to gains in the US dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market.
US West Texas Intermediate crude futures dropped 36 cents, or 0.6%, to $63.17 a barrel...
Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market.
Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer...
Oil prices rose on Monday as the slow return of US crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the Covid-19 pandemic.
Brent crude was up 33 cents, or 0.5%, at $63.24 a barrel, after gaining nearly 1% last...
Construction of a 10 megawatt solar farm in Barzak City, Kashan County in Isfahan Province began on Sunday in the presence of the deputy energy minister, Homayoun Haeri.
The farm will cost $7.3 million and is being built by private companies, Haeri said at the groundbreaking ceremony.
“The...
Oil prices advanced further on Wednesday, underpinned by major supply disruption in the south of the United States this week caused by a winter storm in Texas.
Benchmark Brent crude gained 38 cents, or 0.6%, to $63.73 a barrel. US West Texas Intermediate crude rose 21 cents, or 0.4%, to $60.26 a...