OPEC: Iran’s oil output unchanged
Baku, Azerbaijan, Dec. 10
By Farhad Daneshvar - Trend:
Iran's crude oil output remained unchanged in November month-to-month standing at 2.876 million barrels per day.
According to an OPEC monthly report, released Dec.10, the total OPEC crude oil production in November rose by 0.23 million barrels per day (mb/d) to 31. 695 mb/d, about 1.7 mb/d more than the ceiling level.
That's while, according to OPEC's report, the demand for the cartel's oil in 2015 is 2.1 mb/d less than the current level.
Demand for OPEC's crude in 2015 is estimated to stand at 29.4 mb/d, an increase of 0.4 mb/d over last year, according to the report.
The report said that in 2016, the demand for OPEC crude is forecasted at 30.8 mb/d, an increase of 1.5 mb/d over the current year.
Iran ranked third among the OPEC countries in term of oil production volume, after Saudi Arabia and Iraq.