Iran’s oil minister says the oil sector has faced issues since the US blockade, but prepared countermeasures are still being implemented, state TV reports

This statement from Iran's oil minister underscores ongoing challenges posed by U.S.

Newsquawk StaffPublished 11 May 2026, 11:01 UTCOn the live feed at 10:41 UTC — 5 more headlines followed before this page went public

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10:51

Iranian and Saudi Foreign Ministers held a phone call on the latest developments related to the current diplomatic processes between Iran and the US with the mediation of Pakistan, IRIB reports

10:49

Times Cole reports UK Labour MP West will send a letter to MPs today, but will not state her candidacy. Instead, she will canvas support for a timetable for PM Starmer to stand down and allow a transition.

10:41

Iran’s oil minister says the oil sector has faced issues since the US blockade, but prepared countermeasures are still being implemented, state TV reports

10:39

UK Labour MP West will move ahead with her stalking horse challenge against PM Starmer, ITV's Peston reports

10:38

Libya’s NOC has signed a final settlement with Trasta, ending the foreign partner’s stake in LERCO and restoring full Libyan ownership of the Ras Lanuf Refinery & Petrochemical Complex, Libyan journalist reports

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Context

sanctions, which likely maintain upward pressure on oil prices if production is affected. The mention of 'prepared countermeasures' indicates Iran's attempt to stabilize or even boost its oil output, but investors will be watching for effectiveness and any potential disruptions in the broader market.

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