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Iran rises oil output in July: OPEC

According to OPEC’s latest monthly report, Iran’s oil output stood at 3.824 million barrels per day (bpd) in July, an increase of 7,000 bpd from 3.817 million bpd in June, based on secondary sources.

Iran rises oil output in July: OPEC
(Tuesday, August 29, 2017) 10:49

The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil production in July reached 3.9 million bpd, a 20,000 bpd increase from 3.88 million bpd in June.

Meanwhile, the report put the country’s heavy oil price at $46.01 in July, an increase of $1.39 or 3.1 percent from $44.62 in June.

Iranian crude oil exports rose by 45,000 bpd in July compared to the preceding month, Iran’s oil ministry said last week.
The report did not reveal the exact volume of exports but said “The country sent over 2.2 million bpd of crude oil to European and Asian buyers in July”.

Shipments to the Asian buyers including China, South Korea, India and Japan stood at 1.3 million bpd, it added.

In its Annual Statistical Bulletin report released in early July, OPEC said Iran’s oil exports in 2016 reached 1.921 million bpd, a 77.6 percent rise compared to 2015.

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