Iran boosts oil output by 0.23 mb/d in 1Q16
Baku, Azerbaijan, Apr. 13
By Emil Ilgar - Trend:
Iran has increased the crude oil production by 230,000 barrels per day in 2016.
The average production level stood at 3.03 million barrels per day (mb/d) in the first quarter of 2016, about 230,000 barrels more than in 4Q15, the US Energy Information Administration reported on April 12.
According to the report, the OPEC's total production level reached 31.51 mb/d in 1Q16, about 290,000 barrels per day less than in 4Q15.
EIA estimates that the level would reach 32.14 mb/d in 2Q16 and would rise to around 32.6 mb/d in2H16.
"OPEC crude oil production averaged 31.6 mb/d in 2015, an increase of 0.8 mb/d from 2014, led by rising production in Iraq and Saudi Arabia. Forecast OPEC crude oil production increases by 0.6 mb/d in 2016 and by 0.5 mb/d in 2017, with Iran accounting for most of the increase," the report added.
EIA added that OPEC noncrude liquids production averaged 6.6 mb/d in 2015, and it is forecast to increase by 0.3 mb/d in both 2016 and 2017, led by increases in Iran and Qatar.
Iran's total liquid oil production level stood at 4 mb/d in March, 0.2 mb/d more than February, the report said.
The figure in February-March 2015 was 3.5 mb/d in average.