Baku, Azerbaijan, Sept.25
By Leman Zeynalova – Trend:
Iran is discussing the ways of selling its oil abroad, said the country’s First Vice-President Eshaq Jahangiri.
He noted that Iran’s crude will remain in the domestic market until being purchased by foreign private companies, ISNA reported.
Reportedly, Iran’s Supreme Council of Economic Coordination has approved the plan for export-oriented crude oil supply in the country.
The Council has approved the plan for crude oil supply in foreing currency, which will allow the country’s Ministry of Petroleum to put up the crude oil for sale at competitive prices by using the capaciyt of the private sector.
Iran has decreased its oil output in August 2018 to 3.584 million barrels per day, according to the latest data released by Organization of the Petroleum Exporting Countries (OPEC).
The country’s oil output has decreased by 150,000 barrels per day month-on-month in June 2018, OPEC said in its latest monthly report released Sept. 12.
However, the country has maintained its position as the organization’s third top oil producer after Saudi Arabia and Iraq.
According to the report, Iran’s August output was 227,000 b/d less than the 2017 average and 69,000 b/d more than the 2016 output.
The Islamic Republic’s oil output was 3.806 mb/d in August, according to an OPEC report based on direct communications, indicating a 222,000-barrel difference between OPEC's estimates and Iran’s data.
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