Iran reaches its lowest crude oil production since October 2012

Business Materials 16 January 2013 17:01 (UTC +04:00)

Azerbaijan, Baku, Jan. 16 /Trend S.Isayev/

Iran's crude oil production has fell insignificantly in December of 2012, according to recently published OPEC's monthly oil market report.

Data based on secondary sources says that Iran produced 2,656 thousand barrels of oil per day in December, which is slightly less than it did in November 2012, with an amount of 2,677 thousand barrels per day.

In last three months (October, November, December) Iran has shown its lowest crude oil production.

According to OPEC report, Iran's crude oil production based on "direct communication" increased, reaching 3,710 thousand barrels per day in December 2012, while in November being 3,708 thousand barrels.

According to secondary sources, total OPEC crude oil production averaged 30.37 mb/d in December, a decline of 0.46 mb/d over the previous month.

Crude oil output saw an increase from Nigeria and Angola while production fell in Saudi Arabia, Iraq, and Iran.

According to secondary sources, OPEC crude production, not including Iraq, stood at 27.35 mb/d in December, a decrease of 0.27 mb/d over the previous month.

Iran now holds 4th place after Saudi Arabia, Iraq and Kuwait, among OPEC's top oil producing countries.