Baku, Azerbaijan, Aug. 10
By Emil Ilgar – Trend:
Iran’s oil output has surpassed 3.8 million barrels per day (mb/d) for the second consecutive month since June, OPEC reported.
According to the monthly OPEC report published on its website Aug. 10, Iran increased oil output by 6,900 barrels per day (b/d) to 3.824 mb/d in July, compared to June.
The country’s oil output was 3.774 mb/d in May.
Iran has been allowed to increase its production by 90,000 b/d, compared to October 2016, to about 3.79 mb/d in 2017, based on OPEC’s January oil cut deal.
Iran’s heavy oil price increased by 3.1% to $46.01 per barrel in July, compared to the previous month.
The report says that OPEC’s total production increased by 172,600 b/d in July to 32.869 mb/d, compared to June.
The reason was production increase in Libya and Nigeria which were not included to OPEC deal.
Nigeria increased output by 34,300 b/d to 10.748 mb/d, while Libya’s production increased by 154,300 b/d to above 1 mb/d.