Iran's oil output increases by 131 tbpd in 2014

Iran's oil output increases by 131 tbpd in 2014

Baku, Azerbaijan, July 29

By Umid Niayesh - Trend:

US Energy Information Administration (EIA) announced that Iran ranked third in the Organization of Petroleum Exporting Countries (OPEC), producing 3.247 million barrels per day (mbpd) of oil in first four months of 2014.

Iran's oil output increased by 131,000 bpd during the period, compared with that of last year, EIA reported in its latest Monthly Energy Review, released on July 28.

It should be noted that the crude oil includes condensates and natural gas plant liquids (NGPL) as well.
Iran's crude oil production during the period also indicates an increase by 134,000 bpd compared to the average production of 2013.

Iran produced 3.113 mbpd of oil in 2013 maintaining its 2nd rank in the OPEC, the EIA said.

The country's crude oil production in 2012 stood at 3.387 mbpd, 274,000 bpd more compared to the succeeding year.

Saudi Arabia, by producing 9.801 mbpd of oil, ranked first among OPEC member countries in terms of crude production in the 4-month period.

Also, Iraq produced 3.29 mbpd in this period and ranked second in terms of crude production.

The total output of OPEC in first four months of 2014 amounted to 32.055 mbpd, indicating a decline of 298,000 bpd compared with the same period of preceding year.

Iran's oil output in April stood at 3,230 mbpd, which indicates an increase by 106,000 barrels per day compared with April 2013.

The country ranked seven among world crude oil producers after Russia(10.08 mbpd), Saudi Arabia (9.69 mbpd), the US(8.38 mbpd), China(4.132 mbpd), Canada(3.47 mbpd) and Iraq(3.3 mbpd) in April 2014, according to the report.

The EIA is a principal agency of the US Federal Statistical System responsible for collecting, analyzing and disseminating energy information to promote sound policymaking, efficient markets and public understanding of energy and its interaction with the economy and the environment.

EIA programs cover data on coal, petroleum, natural gas, electric, renewable and nuclear energy. It is part of the US Department of Energy.

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