This is pretty cool. This can be seen only as good news for the beleaguered oil and gas industry. Iran may play ball.
Reuters is reporting:
Iran may join other oil producers planning to freeze production to support prices at a later date, OPEC's secretary general said on Monday, since the country is seeking to raise its exports. Producers from the Organization of the Petroleum Exporting Countries and non-members are due to meet on April 17 in Qatar discuss the output freeze.
But Iran is seeking to increase exports, following the lifting of Western sanctions in January.
"I hope the result of the meeting will be positive," Abdullah al-Badri said at a news conference in Vienna. "They are not objecting to the meeting but they have some conditions for the production and maybe in the future they will join the group," he said of Iran.
The comments are a further sign that Iran's position will not derail a wider agreement on the output freeze. Gulf oil exporters including Saudi Arabia had previously maintained that all major producers should participate.
Reuters is also reporting huge losses for Petrobras:
Brazil's state-controlled oil company Petróleo Brasileiro SA posted a record loss in the fourth quarter after booking a large writedown for oil fields and other assets as oil prices slumped.
Petrobras, as the company at the epicenter of Brazil's massive corruption scandal is commonly known, had a consolidated net loss of $10.2 billion in the quarter.
The bigger-than-expected shortfall was 48 percent larger than the 26.6 billion-real loss a year earlier, the previous record. The largest fourth-quarter loss expected in a Reuters survey of analysts was for a 9.7 billion reais.
The April 17 OPEC meeting can't come soon enough.
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