Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices.
Iran is ready to export gas and electricity to Pakistan, in addition to a short-term agreement on natural gas exports to Georgiathrough the territory of Armenia.
Iran announced that it is ready to join the OPEC oil production cuts despite being exempted from the initial production cuts agreement, which allowed it to boost its crude output to about 4m barrels.