Baku, Azerbaijan, Mar. 14
By Emil Ilgar – Trend:
Iran increased oil output in February by 36,100 barrels per day (b/d), month-to-month, bringing it to 3.814 mb/d, OPEC reported Mar. 14.
According to OPEC’s monthly report published on its official website, Iran’s oil output is 976,000 b/d more than the 2015 average.
In the meantime, Iran’s heavy oil price increased by 2.4 percent to $53.16 during last month, compared to January.
OPEC says its output decreased by 139,500 b/d to 31.958 mb/d in February, compared to January.
“Crude oil output increased the most in Nigeria, while production in Saudi Arabia, Iraq, UAE and Angola showed the largest declines.”
Demand for OPEC crude in 2016 stood at 31.6 mb/d, some 1.9 mb/d higher than in the previous year.
For 2017, demand for OPEC crude is projected at 32.4 mb/d, the report said.