Day: September 7, 2025

Vienna: Uncertainty loomed over what Saudi Arabia, Russia, and six other key members of the OPEC+ alliance would decide on crude output in their meeting on Sunday, with analysts saying a production boost was also being considered. The meeting by the group of eight oil-producing countries known as the Voluntary Eight (V8) comes as oil prices extended losses in anticipation of excess supply in the coming months.

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According to Nam News Network, the wider OPEC+ group, comprising the 12-nation Organization of the Petroleum Exporting Countries (OPEC) and its allies, had agreed in recent years to several output cuts that amounted to almost six million barrels per d…

Iran Needs New Framework for Cooperation with IAEA – FM

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Iran: Iran needs a new framework for cooperation with the International Atomic Energy Agency (IAEA), Iranian Foreign Minister Seyed Abbas Araghchi said on September 6 at the National Conference on Opportunities and Investment Opportunities of Iran’s F…

Weekly Review Shows Increase in Azerbaijani Oil Prices

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Baku: Average prices for Azeri Light CIF and Azeri Light FOB Ceyhan rose, while prices for Urals (EX NOVO) and Dated Brent fell this week, Trend reports. The average price of Azeri Light CIF oil produced at Azerbaijan’s Azeri-Chirag-Gunashli field inc…

Eight OPEC+ Members Agree on New Output Adjustment

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Abu dhabi: Eight members of the OPEC+ coalition, comprising Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, convened virtually on 7 September 2025 to evaluate the current global oil market conditions.

According to Trend News…

Blood Moon Set to Appear During Lunar Eclipse Tonight

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Baku: The Earth will pass between the Sun and the Moon as the eclipse reaches its peak tonight, producing a lunar eclipse often called a “Blood Moon.”

According to Azeri-Press News Agency, Queen’s University in Northern Ireland reported the event and…

Baku: An American business delegation visited the Port of Baku, highlighting its strategic importance in international trade. On September 7, Eldar Salahov, Director of Baku International Sea Trade Port LLC, met with Natig Bakhyshov, Executive Director of the US-Azerbaijan Chamber of Commerce (USACC), as reported by Trend with reference to the Port of Baku.

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According to Trend News Agency, the meeting provided the American delegation with comprehensive insights into the port’s strategic location, state-of-the-art infrastructure, and cargo handling capabilities. Discussions also covered the process of tran…