طراحی سایت
X

PEDC News

Home /News & Media/News
Saturday 06 April 2019
number of visits: 175

Oil Market Supply - Demand Balance is Fragile--Iran

Oil Market Supply - Demand Balance is Fragile--Iran

TEHRAN (Shana) -- The balance between supply and demand in the oil market is fragile, Iranian Minister of Petroleum Bijan Zangeneh said on Monday, as he called on crude producers to be wary of troubles caused by U.S. sanctions.

According to Reuters, oil prices are being supported by U.S. sanctions on Iran and Venezuela along with voluntary supply cuts by the Organization of the Petroleum Exporting Countries and other major producers.

“Oil market is in a fragile situation considering the supply and demand balance, so the oil producers should be wary of any trouble in the oil market, especially due to U.S. measures against big oil producers,” Mr. Zangeneh was quoted as saying by IRNA upon his arrival in Moscow, Reuters reported.

He was traveling to Moscow to discuss the oil market with his Russian counterpart Russian Energy Minister Alexander Novak, Reuters said.

Mr. Zangeneh said, “Russia is one of the biggest oil producers in the world, and we are in a situation that we thought it is necessary to discuss the oil market with our Russian friends.”

Source : Link

Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

Picture
  • Oil Market Supply - Demand Balance is Fragile--Iran
طراحی سایت ایزی وب