Sunday, May 26, 2024

OPEC figures show Iran’s oil output at 2.567 mln bpd in March

Figures by The Organization of the Petroleum Exporting Countries (OPEC) shows Iran’s oil output in March was almost unchanged from February.

The figures covered in a Saturday report by the ILNA news agency showed that Iran had produced an average of 2.567 million barrels per day of crude oil in March, down by 8,000 bpd from February.

The decreased output mirrored a month-on-month decline of 0.29% in OPEC oil production in March.

The average price of Iranian Heavy crude grade reached $78.8 per barrel in March, down from $81.88 per barrel reported in February, showed OPEC tables.

OPEC forecasts showed that global demand for crude oil will reach an average of 101.89 million bpd, up by 2.33% from the average demand reported last year.

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