Baku, Azerbaijan, Sept. 12
By Fatih Karimov– Trend:
Iran’s oil output decreased in August by 2,300 barrels per day month-on-month, and stood at 3.828 million barrels per day (mb/d), OPEC reported Sept. 12.
According to the report, Iran’s August oil output was 310,000 b/d more than the 2016 average and 992,000 b/d more than the 2015 output.
The Islamic Republic’s oil output was 3.845 mb/d in August, according to an OPEC report based on direct communications, indicating a 17,000-barrel difference between OPEC's estimates and Iran’s data.
According to the report, Iran’s heavy oil price increased by 5.8 percent month-on-month to $48.70 per barrel in August.
Iran’s major heavy oil price increased to $49.27 per barrel in 2017 from $36.60 per barrel in 2016.
OPEC members decreased oil output by 79,100 b/d in August to 32.775 mb/d, according to the report.
Saudi Arabia was the top oil producer in OPEC with 10.022 mb/d of output, followed by Iraq (4.448 mb/d), Iran (3. 828 mb/d) and the UAE (2.901 mb/d).
