TEHRAN, Oct. 31 (UPI) -- Iran will follow recommendations from the OPEC cartel and drop its oil production quota by 199,000 barrels per day beginning in November, officials said Friday.

TEHRAN, Oct. 5 (UPI) -- A price for a barrel of crude oil that is below $100 is unacceptable, Iranian Oil Minister Gholam Hossein Nozari says.

TEHRAN, Sept. 2 (UPI) -- Iran's oil minister Tuesday said the Organization of Petroleum Exporting Countries should discuss reining in excessive oil production.

WASHINGTON, May 30 (UPI) -- As U.S. consumers bemoan the imminent appearance of $4 a gallon gas, factors largely beyond Washington's control are now driving prices. A perfect storm of tapped-out capacity, lack of significant new developments coming online, speculation, inclement weather and terrorism, however, have combined to cause the record high prices, which are unlikely to fall anytime soon.

Iran warns Shell over commitment to gas project; Scottish government rejects wind farm project; Italy's ENI eyes Iraq oil sector

TEHRAN, April 22 (UPI) -- Iran's oil minister Gholam-Hossein Nozari Tuesday said negotiations are nearly complete for a cooperative agreement with Russia's energy giant Gazprom.

TEHRAN, April 17 (UPI) -- Iran has set a June 20 deadline for Total and Royal Dutch Shell to decide if they will take part in Phase 11 of the South Pars development project.

Bangladesh oil blocks draw major bids; Iran announces gas deal with Switzerland; Iraq's pipelines up and running

WASHINGTON, Feb. 29 (UPI) -- Washington's increasingly factious relations with Moscow have driven Russia closer to Iran.