BAKU, Azerbaijan, May 17. Iran's crude oil supply increased by 50,000 b/d in April, bringing the total to 3.3 mb/d, Trend reports.
According to the data received from the International Energy Agency (IEA), the country's oil exports, mostly to China, have stabilized at around 1.6 mb/d, compared to last year’s average of 1.3 mb/d.
The agency's forecast for Iran's crude output now stands at 3.3 mb/d for both 2024 and 2025.
In 2023, the IEA estimated Iran's oil production at 3 mb/d.
Meanwhile, in April, OPEC+ crude oil output from all 22 member countries decreased by 90,000 b/d to 41.43 mb/d, partially due to Russia implementing some of its pledged production cuts for the second quarter of 2024.
Increased production from Iran and Libya, both exempt from OPEC+ cuts, along with Nigeria, helped to offset the overall decline.