Topic: Iran

Oil prices are set to extend declines as uncertainty persists over the euro zone's future, growth slows in China and the dollar rises. But international talks in Baghdad scheduled on Wednesday around Iran's nuclear program may contain losses if the country's leadership resists pressure to curb uranium enrichment, CNBC's weekly survey showed.

Benchmark crude oil prices will extend losses this week as risk aversion stoked by lingering political uncertainty in Europe continues to haunt markets, CNBC's weekly survey of market sentiment showed.

International talks scheduled later this month aimed at curbing Iran's nuclear program "will fail", boosting the risk premium in global oil prices, Roubini Global Economics said this week.

Iran is accepting renminbi for some of the crude oil it supplies to China, industry executives in Beijing and Kuwait and Dubai-based bankers said, partly as a consequence of U.S. sanctions aimed at limiting Tehran’s nuclear program, the Financial Times reports.

Violent confrontations between Somali pirates and merchant ships’ armed guards could become more common as some shipping companies have reduced ship speeds through the highest-risk area to save on fuel, maritime experts have warned.

Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.

To understand the effect that events have  on global oil markets a key figure to watch is the amount of crude produced daily in each country. With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on that basis. (Production is defined as extraction from the Earth’s crust, prior to the refining process.)

European Union member governments could review in the next two months an embargo on Iranian oil imports due to take effect in July, a senior EU official said on Friday.

An updated industry report published shows Iran as having produced 3.752 million barrels per day (bpd) in February, marking the highest output since December 2008.

Marine insurance, or lack of it, may yet turn out to be the most effective sanction used by Western nations in 17 years of tightening the screws on Iran's nuclear program.

Benchmark U.S. crude futures will likely remain flat this week with the bias suggesting weaker prices ahead unless headlines on Iran’s nuclear program renew fears of supply risks, CNBC's weekly survey of market sentiment showed.

U.S. President Barack Obama said there would be more sanctions imposed on Iran if there is no breakthrough in nuclear talks with global powers in the coming months, responding to Israeli accusations that Tehran has been given a "freebie."

At their first meeting after a year of sanctions and sabre-rattling over Iran's nuclear program, negotiators from Tehran and six world powers said "constructive" talks on Saturday meant they would sit down again together next month.

Top oil exporter Saudi Arabia is determined to bring down high oil prices and is working with fellow OPEC members towards that goal, Oil Minister Ali al-Naimi said on Friday.

Benchmark U.S. crude futures will likely remain unchanged around $103 a barrel as investors debate whether Friday's sub-par payrolls data builds the case for more stimulus from the Federal Reserve, CNBC's weekly survey of market sentiment showed.