Iran plans to raise its oil output capacity by 170,000 barrels per day by end of the current Iranian year, which ends on March 20, 2016, the official Irna news agency cited an Iranian oil official as saying.
The Organization of the Petroleum Exporting Countries (Opec) is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said, according to the semi-official Mehr news agency.
The Organisation of the Petroleum Exporting Countries (Opec) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday.
Asked if Opec would cut output at the upcoming June 5 me
Opec countries are set to maintain current production levels at a meeting next month, three delegates said, as Gulf states continue to focus on market share and a rally in crude prices mutes calls from other members for supply cuts.
Members of the Organization of the Petroleum Exporting Countries (Opec) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted by state news agency IRNA as saying.
Two tankers will lift 1.3 million barrels of crude from east Libyan ports Hariga and Zueitina, oil officials said.
The Hariga port was expecting a tanker to lift 700,000 barrels of crude, an oil official said.
Opec's oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.
In a mo
Iraq's oil minister said his country's oil exports should hit a record of about 3.1 million barrels per day in April as output from the country's southern fields stays strong and weather conditions improve.
Saudi Arabia has revved up crude production to its highest rate on record, feeding unexpectedly strong demand from foreign refiners and increased capacity at home.
Oil Minister Ali Al Naimi told reporters that the