Reza Zandi

#Oil & #Energy Senior Journalist | #OPEC | Analyst in #Oil & #Gas Sectors of #Iran.

[Reza Zandi @R_Zandi]

H.E. Barkindo! Have a safe journey to Paradise, rest in peace, and enjoy God Almighty's mercy and compassion - compassionate as you were in your life towards others./8-8 #OOTT #OPEC

Photo: (July 2019- @OPECSecretariat. )

[Reza Zandi @R_Zandi]

The interview, almost two hours long, will be published along with another one done before, in the form of a book. The book will contain the Secretary-General’s narration of two exceptional periods in the life of the Organization… /2 #OOTT #OPEC

[Reza Zandi @R_Zandi]

…its accomplishments, even under the unjust sanctions imposed on Iran, for example, the achievements of the MAPNA Company and the power industry. He had a very strong critical view of the sanctions./7 #OOTT #OPEC

[Reza Zandi @R_Zandi]

The Last Interview: Just 4 days before departure forever!

Last Friday evening I conducted my last professional interview with Excellency Mohammed Sanusi #Barkindo from the @OPECSecretariat in Vienna, just 4 nights before he flew to Heavens forever…/1 #OOTT @thread #OPEC

[Reza Zandi @R_Zandi]

The 29th #OPEC+ Ministerial Meeting was held via videoconference on 2June2022. The Meeting noted the most recent reopening from lockdowns in major global economic centers. It further noted that global refinery intake is expected to increase after seasonal maintenance. #OOTT

[Reza Zandi @R_Zandi]

#OPEC+ decided, in a brief meeting, to increase the production of oil by 648 thousand bpd for the moths of July and August. As such, no decision was made for the month of September. #OOTT

[Reza Zandi @R_Zandi]

…then we arrive at the figure 648thousand bpd per month (until the end of August). In fact, this is not a new proposal for a higher level of increase. Rather, a previous scenario except that it starts a month earlier (at the beginning of September instead of at its end)./2 #OOTT

[Reza Zandi @R_Zandi]

Previously it had been indicated that a monthly increase of 432 thousand bpd would be decided for the three months of July, August and September; that is, a total of 1.296million bpd until the end of September. Once divided by two,that is for the months of July & August../1 #OOTT

[Reza Zandi @R_Zandi]

The JMMC recommended an increase of 648 thousand bpd for the months of July and August has been raised in the meeting. If this proposal adopted by the #OPEC+, then it would be seen as a positive nod to the requests from Europe and the United States - albeit a modest yes! #OOTT

[Reza Zandi @R_Zandi]

…that is, 433 thousand bpd increase, with the proviso that Saudi Arabia, Iraq, Kuwait and UAE will increase their respective production in lieu of the countries not capable of increasing the production as per their quota. It appears that the latter seems more probable./2 #OOTT

[Reza Zandi @R_Zandi]

As I gather, one scenario for today's meeting is to announce the increase of production for the months of July and August together today. The other scenario is to agree on 500-600 thousand increase bpd. The third scenario is the same previous familiar increase;../1 #OOTT #OPEC

[Reza Zandi @R_Zandi]

Javad #Owji The Iranian Minister of Petroleum will participate in the OPEC+ meeting from Baku, Azerbaijan. The JMMC meeting just got under way a few minutes ago. Therefore, the #OPEC+ meeting will be delayed./5 #OOTT

[Reza Zandi @R_Zandi]

Javad Owji, the Petroleum Minister of #Iran, will not attend today's OPEC+ meeting. He is visiting Baku for the Azerbaijan Energy Week Conference. Amir-Hossein Zamaninia, Iran's Governor at #OPEC, Will attend the meeting./1 #OOTT

[Reza Zandi @R_Zandi]

It is also possible that #Russia, considering the on-going sanctions against its oil exports, might request to be exempted from production limits. Should that come to pass, it will be tantamount to the actual end of #OPEC+./4 #OOTT