BAKU, Azerbaijan, December 27. Iran's oil output is expected to stand at 3.2 mb/d in 2024, Trend reports.
According to the latest data provided by the International Energy Agency (IEA), the country's production is expected to stand at this level throughout the whole year.
The report indicates that Iran's oil output in 2023 will total 3.2 mb/d. In particular, in 1Q2023 the country's crude production has been estimated at 2.7 mb/d, slightly increasing to 3 mb/d and 3.1 mb/d in the subsequent quarters. In 4Q2023, the country's output is forecast to amount to 3.2 mb/d.
According to IEA statistics, Iran's oil output experienced an average growth of around 1 mb/d compared to the levels of 2020 (2 mb/d) and 2021 (2.4 mb/d).
At the same time, the agency noted that, in November, the crude oil supply in Iran increased by 90,000 b/d, reaching 3.19 mb/d - the highest level reached since October 2018.
Meanwhile, the IEA indicates that total OPEC+ output for the current year is projected to reach 43.5 mb/d and is expected to be 43.4 mb/d in 2024.