Baku, Azerbaijan, June 14
By Emil Ilgar - Trend:
Iran's oil supply growth this year is expected to increase by 0.7 million barrels per day in 2016, the International Energy Agency (IEA) said June 14.
According to this report, Iran has clearly emerged as OPEC's fastest source of supply growth this year.
The report says that Iran's oil output increased by 0.1 mb/d to 3.7 mb/d in May month-to-month.
Iran's Oil Minister Bijan Namdar Zanganeh said June 14 that the country's crude oil production surpassed 3.8 million barrels per day (mb/d) in the current month (started May 21).
He added that the country's gas condensate production has reached 0.6 mb/d, Shana news agency reported.
According to OPEC's monthly report, published on June 13, Iran's crude oil production increased by 90,000 b/d to 3.562 mb/d in May month-to-month.