Other key points reported by Iran’s IRIB News included the US lifting its naval blockade on Iranian ports and the American navy leaving the waters surrounding Iran

Oil ​prices fell 4% after U.S. President Donald Trump said that negotiations with Iran were in the final ‌stages, though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues

A survey found that crude output from the 12 members of the Organization of the Petroleum Exporting Countries fell by 830,000 barrels per day (bpd) in April from the previous month to 20.04 million bpd

U.S. President Donald Trump said he expects oil prices to decline as soon as his administration’s military operations in Iran come to an end

The company reported that its pre-tax income in 2025 decreased by 0.5% to $29.756 billion, while revenue from the sale of property and equipment totaled $1.148 billion, representing a 29.1% year-over-year decline

Oil-related tax revenues were halved to 281.7 billion rubles ($3.7 billion) compared with January 2025. Combined revenues from the oil and gas sectors also dropped 50% to 393.3 billion rubles

The company’s CFO, Fernando Melgarejo, attributed the profit to an increase in crude output, which helped offset the decline in international prices

Oil prices fell by about 2% ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October

In a client note, Barclays energy analyst Amarpreet Singh reiterated a constructive stance on the sector, citing resilient demand and persistent supply constraints among major producing nations

In its monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecasts for global oil demand growth unchanged for 2025 and 2026, following reductions in April, stating that the economic outlook remained robust