News in Brief
Iran buying new airliners: minister
Economy Desk
Iranian Minister of Roads and Urban Development Mehrdad Bazrpash announced the transfer of 128,000 Arbaeen pilgrims by plane, saying, “The purchase of a number of planes is underway, which cannot be described due to sanctions.”
Stating that the average delay in Arbaeen flights has been significantly reduced compared to last year, he noted that outbound flights will peak in the next three days as we are trying to establish special flights for Arbaeen.
Bazarpash said one of the main programs of his ministry is to equip and modernize the air transport fleet, adding, “Some of the planes that were grounded were repaired and rejoined the national fleet, using local technologies by Iranian experts.”
OPEC oil output ...
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Top exporter Saudi Arabia kept August output within a whisker of 9 million bpd, the survey found, as the country extended a voluntary 1 million bpd output cut for a second month to provide extra support for the market.
Iranian oil output hit 3.10 million bpd in August, the survey found. This is the highest since 2018, the year Washington re-imposed sanctions on Iran, according to Reuters surveys and separate figures from OPEC.
Analysts have said the higher exports appear to be the result of Iran’s success in evading U.S. sanctions and Washington’s discretion in enforcing them as the two countries seek better relations. The second-largest increase in OPEC output this month came from Nigeria, where exports resumed from the Forcados terminal after a shutdown, the survey found.
OPEC’s output is still undershooting the targeted amount by almost 800,000 bpd mainly because Nigeria and Angola lack the capacity to pump as much as their agreed level.
The Reuters survey aims to track supply to the market. It is based on shipping data provided by external sources, Refinitiv Eikon flows data, information from companies that track flows such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.