Iran’s peak load record was broken on Saturday, according to Iran Grid Management Company.
The country's electricity consumption reached 67,318 megawatts on July 2, while the highest amount of consumption last year, 67,012 MW, was set in August when the temperature was higher.
Saturday’s...
Oil prices eased on Friday as lingering fears of a recession demand weighed on sentiment, putting the benchmarks on track for their third straight weekly losses.
Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel, giving up earlier gains of over $1, Reuters reported.
WTI crude...
Oil prices eased on Friday as lingering fears of a recession demand weighed on sentiment, putting the benchmarks on track for their third straight weekly losses.
Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel, giving up earlier gains of over $1, Reuters reported.
WTI crude...
The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister.
“Some people believe the prices to be a little bit on the high side and expect us to pump a little bit more but at this moment...
Oil prices extended gains on Monday as investors stood on guard for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven nations meeting in Germany.
The prospect of more supply tightness loomed over the market, as Western governments...
Oil prices dived more than $4 a barrel on Wednesday amid a push by US President Joe Biden to bring down soaring fuel costs, including pressure on the country's major energy firms to help ease the pain for drivers during peak summer consumption.
WTI crude futures were off lows but still down $4....
A total of 19 widely used equipment in South Pars Gas Field platforms will be indigenized by the end of October.
Of the total projects to manufacture the parts inside the country, seven projects will be completed next month and the rest will be done by November, the Oil Ministry’s news agency...
Oil prices rose on Monday in volatile trade, reversing earlier losses, as tightening supplies outweighed concerns about slowing global economic growth and fuel demand.
Brent crude futures rose 42 cents, or 0.4%, to $113.54 a barrel. Front-month prices tumbled 7.3% last week, their first weekly...
Oil prices edged lower on Friday as demand concerns emerged following interest rate hikes in the week, although new sanctions on Iran capped the downside.
Brent crude futures fell 47 cents, or 0.4%, to $119.34 a barrel, while US West Texas Intermediate crude futures fell to $117.02 a barrel,...
OPEC expects the pace of oil demand growth to halve next year, as inflation and conflict grip the global economy.
World oil consumption will expand by 1.8 million barrels a day, down from the 3.4 million a day anticipated this year, the group’s preliminary projections show, according to a...