Iran remains OPEC 3rd biggest oil producer in August: Report

EghtesadOnline: As reported, Iran has maintained its place as OPEC’s third-biggest oil producer after Saudi Arabia and Iraq.

Based on secondary sources, Iran produced 3.273 million bpd of crude oil in July, the report said.

The Islamic Republic’s average crude output for the second quarter of 2024 stood at 3.238 million bpd indicating a 59,000 bpd increase compared to the figure for the first quarter of the year, the report added.

The report put the average Iranian crude output for 2022 at 2.554 million bpd, while the average output in 2023 was 2.859 million bpd.

It is predicted that Iran's oil production will increase by another 100,000 bpd, reaching 3.2 million bpd in 2024. / Mehr