Iranian Oil Minister says cooperation with the US on oil is possible
Newsquawk Staff ·
Iranian Oil Minister says cooperation with the US on oil is possible.
What it means
The Iranian Oil Minister's comments about potential cooperation with the U.S. on oil could suggest a thaw in relations that may influence global oil supply dynamics. If this cooperation materializes, it could lead to increased Iranian oil output and affect WTI prices, highlighting a significant geopolitical risk for the energy market.
Sources
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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