TEHRAN, Iran, July 4. Iran's heavy crude oil price rose by $29.13 per barrel on a yearly average, to stand at $69.8, while Iran's light crude oil was higher by $27.54 y-o-y at $67.9 in 2021 compared with 2020 levels, Trend reports citing OPEC annual report.
In an annual report, the Organization of the Petroleum Exporting Countries (OPEC) said that 2021 production increased Iran by 0.42 mb/d.
According to the report, the global oil market conditions improved significantly in 2021 after an exceptionally disruptive 2020, despite the emergence of several new COVID-19 variants with uneven severity and impact on the global economy and oil demand.