OPEC: Oil production in Iran decreases by one million barrels

Oil&Gas Materials 12 December 2012 22:26 (UTC +04:00)
OPEC issued a report for November 2012, the website of the organization reports.

Azerbaijan, Baku, Dec.12 /Trend T.Jafarov/

OPEC issued a report for November 2012, the website of the organization reports.

In the report, OPEC said that daily oil production in Iran amounted to 2.638 million barrels, an average of 945,000 barrels less compared to the same period last year.

The report also includes statistics on oil production in the country provided by the Iranian oil ministry to OPEC. According to the statistics, the daily oil production in November amounted to 3.780 million compared to the same period last year, the production even increased by 132 thousand barrels.

According to the International Energy Agency, the U.S. Energy Information Administration and other international institutions, the daily oil production in Iran decreased by a million barrels over the past year.

In addition, some members of the Iranian parliament, including Deputy Speaker Mohammad Reza Bahonar, member of the budget committee Gulamrza Miesbachi Muqaddam, confirmed the decline in exports of oil in Iran by one million barrels.

In addition some officials said that "oil exports will be cut by one million barrels next year compared to the current year in order to reduce dependence on oil in the budget for 2013-2014"

According to a new report of OPEC, Iran ranks fourth among the countries of the organization after Saudi Arabia, Iraq and Kuwait. Last year, Iran ranked second.

Although the twelve OPEC countries agreed on the level of daily production at 30 million barrels, the figure was 30.781 million barrels in November.

In a new report, OPEC also released its forecasts for production, sales and demand for oil in 2013. According to information the demand for oil will increase by 800,000 barrels next year. Oil demand was 89.6 million barrels this year.

The information indicates that the demand for crude oil produced by OPEC countries in 2013 will be 29.7 million barrels per day.

Earlier, OPEC announced that Iran exported production worth $130.54 billion, 114.75 billion of which comes from exports of oil and condensate. It means that 84 percent of Iran's revenues are directly dependent on oil.