News ID: 317716
Published: 0146 GMT November 07, 2021

Iran crude oil output up 0.8% in September: OPEC sources

Iran crude oil output up 0.8% in September: OPEC sources

Latest figures by the Organization of Petroleum Exporting Countries (OPEC) showed that Iran’s crude oil output rose slightly in September to reach 2.5 million barrels per day (mbd).

The figures, published in a report by Fars News Agency, showed that Iran’s September oil output had increased by 21,000 bpd, or 0.84%, compared to production figures reported in August.

OPEC gathers its crude output data based on information provided by secondary sources.

Monthly output tables provided by the organization this year have shown that Iran has managed to increase its crude production against figures reported in 2020.

Analysts believe the surge proves Iran is actually exporting more crude despite continued American pressure on its energy sector.

Iran was the third largest OPEC producer before Washington imposed its sanctions on the country’s crude sales in 2018.

Iranian Oil Ministry authorities have repeatedly announced that they can swiftly ramp up crude output to pre-sanctions levels of around 3.8 million bpd if the country and global powers reach an agreement on reviving a 2015 nuclear deal.

OPEC’s recent report said that the average price for Iranian crude was $74.08 per barrel, an increase of over 5% compared to the previous month.

The report said that OPEC’s total output had reached 27.3 million bpd in September, up 1.8% against August.

 

 

   
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