OPEC

The 61st meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was held via video conference with the oil minister as the 2025 OPEC Conference president in attendance.

Iran managed to significantly increase its oil export revenues last year, according to new OPEC data, which shows that US sanctions have failed to choke off the country’s lucrative oil business.

Iran’s oil production fell slightly in June amid an Israeli war of aggression against the country and despite a general rise in output by major oil producers, according to the latest data by the Organization of the Petroleum Exporting Countries (OPEC).

Iran has maintained its position as the second-largest oil refiner in the Organization of the Petroleum Exporting Countries (OPEC), a sign that the country is using the best of its petroleum industry resources despite US sanctions targeting the sector.