OPEC: Iran’s oil output up in April

Oil&Gas Materials 13 May 2016 15:01

Baku, Azerbaijan, May 13

By Emil Ilgar - Trend:

Iran increased crude oil production by 198,200 barrels per day (b/d) in April, compared to the previous month, OPEC said in a monthly report on May 13.

According to the report, Iran's crude oil output stood at 3.451 million barrels per day (mb/d) in April, or about 616,000 b/d more than the 2015 average.

Iranian heavy oil price stood at $36.65 last month, $3.42 more than in March.

OPEC says its members' total crude output reached 32.44 mb/d in April, which indicates an increase by 188,200 b/d month-to-month.

The OPEC natural gas liquids and non-conventional liquids production in 2015 was 6.13 mb/d and the figure is projected to average 6.29 mb/d in 2016.

The report says the world oil demand in 2015 grew by around 1.54 mb/d to 92.98 mb/d and is expected to rise by 1.20 mb/d to reach 94.18 mb/d in 2016.

Preliminary data indicates that the global oil supply increased by 0.02 mb/d in April as compared to the previous month, and averaged 95.34 mb/d.