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Iran sees strong rise in oil output in Oct. 2023

Iran Materials 14 November 2023 12:45 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 14. Iran's oil production in October 2023 totaled over 3.1 mb/d, Trend reports.

As evident from the latest oil market review from OPEC, the country increased it crude output in the reporting period by 46,000 b/d month-on-month (3.06 mb/d in September 2023).

At the same time, Iran's oil production in 1Q2023 has been estimated to stand at 2.572 mb/d, OPEC says, reffering to secondary sources. In the subsequent period, the country slighly increased its output to 2.698 mb/d (2Q2023), boostin production to 2.996 mb/d in 3Q2023.

OPEC also reported an estimated crude output for Iran at 2.554 mb/d in 2022.

Meanwhile, the average crude oil production of OPEC-13 totaled 27.9 mb/d in October 2023, showing a month-on-month increase of 80,000 b/d.

The rise in crude oil output was primarily observed in Angola, Iran, and Nigeria, whereas Libya, Saudi Arabia, and Kuwait experienced a decrease in production.

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