Saudi Arabia’s deputy crown prince has said the kingdom will agree to freeze oil output only if Iran and other major oil producing nations do so. “If all countries including Iran, Russia, Venezuela, OPEC countries and all main producers decide to freeze production, we will be among them,” Mohammed bin Salman told Bloomberg. Iran has […]
The Saudis have put all speculation over an anticipated cut in crude production by OPEC countries to rest. It is a freeze in output at existing levels that is on the table, not a cut, Saudi Oil Minister Ali Al-Naimi was reported as saying. The global oil glut that has brought prices tumbling down to […]
Iran’s return to the global oil market will add supply to an oversaturated market, but the country faces challenges in ramping up its production, Moody’s Investors Service said. While Russia and Saudi Arabia agreed on February 16 to freeze their oil output in an attempt to stabilize prices, that deal doesn’t yet include Iran. Moody’s […]
