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If OPEC+ extends the unwinding of output cuts beyond April without reining in supply from members currently overproducing versus their targets, another 400,000 b/d could be added to the market, according to Reuters news agency. 

“Equally, the…

TEHRAN- The value of Iran’s non-oil export to Azerbaijan increased by 14.5 percent during the first ten months of the current Iranian calendar year (March 20, 2024-January 19, 2025), as compared to the same period of time in the past year, the…

TEHRAN – The secretary of Iran’s Home Appliance Industries Association said domestic production of home appliances is expected to reach 20 million units by the end of the current Iranian calendar year (late March). The significant increase in…

TEHRAN – Iran’s Minister of Transport and Urban Development inaugurated 4,980 residential units under the National Housing Movement in West Azarbaijan Province during his visit to the region.

In a symbolic ceremony held in Urmia on Saturday,…

TEHRAN – The exploratory excavation conducted by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) increased by 27 percent in the first 10 months of the current Iranian year (March 20, 2024 – January 20,…

Some state-controlled Chinese refiners have reduced purchases of Russian oil loadings for March as they assess the risks of dealing with sanctioned entities and wait for more clarity about a possible Russia- Ukraine ceasefire and potential US…

TEHRAN – The National Pension Fund of Iran, the owner of Persian Gulf Saba Steel Company, which produces 1.3 million tons of steel briquettes annually, has launched a €200 million expansion project aimed at boosting production…