Azerbaijan, Baku, Oct. 11 /Trend D. Khatinoglu, N. Umid/
The Organization of Petroleum Exporting Countries (OPEC) released its monthly report on October 11, saying Iran's crude oil output increased by 6,400 barrels per day in September compared to the previous month.
According to the report, Iran produced on average 2.7 million barrels per day (mbpd) in September based on secondary sources.
Iran's oil production is 3.517 mbpd for September in OPEC report based on direct communication, indicates 817,000 barrels difference between OPEC's estimates andIran's alleged figure.
Iran's oil production has decreased by 928,000 bpd since 2011, according to the report.
The report says that OPEC members' total crude oil output dropped by about 390,000 bpd in September compared to August reached 30.05 mbpd. The most drop in crude production level belongs to Iraq with a 370,300 bpd decrease in a month.
Saudi Arabia's oil production also decreased by 49,500 bpd and reached 10.061 mbpd in September compared to August.
The OPEC Reference Basket averaged $108.73/b in September, representing an increase of $1.21/b over the previous month.
"World oil demand is estimated to average 89.7 mb/d in 2013, representing growth of 0.8 mb/d compared to the previous year, and unchanged from the previous report. Upward revisions in OECD Americas and Europe were almost entirely offset by downward adjustments in OECD Asia Pacific, Other Asia and the FSU. For 2014, growth is expected to increase to around 1.0 mb/d to reach to 90.8 mb/d. Non-OECD countries are projected to lead oil demand growth with 1.2 mb/d, while OECD consumption is seen continuing to decline but at a lower rate of 0.2 mb/d. ," the report said.
OPEC report says that the demand for OPEC crude in 2013 is forecast to average 29.9 mbpd, unchanged from the previous report and 0.5 mbpd less than last year and demand for OPEC crude in 2014 is revised to be 29.6 mbpd.