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FinancialNews


  • 15-09-22

    OPEC: Iranian heavy crude oil price declines 5 percent last month

    (MENAFN) Iranian heavy oil cost declined by USD5.39 last month to record a 5 percent decrease in comparison with the prior month, in line with OPEC’s most recent month-on-month report issued on Tuesday.

    Following the surge in oil provision by OPEC associates in the second month in a row, the Iranian heavy crude oil cost stood at USD102.24 a barrel last month, against USD107.63 a barrel in the month before (July).

    In line with the report, the nation’s average heavy crude price reached USD105.06 from the start of this year up to the report’s publishing day, compared to USD65.70 in the prior year’s same span of time.

    The report put Iranian crude production for last month at 2.572 million barrels per day (bpd) showing a 5,000-bpd surge in comparison with the number for the prior month.

    According to OPEC figures, the nation’s average crude production in the April-June period of this year reached 2.556 million bpd showing an almost 27,000-bpd surge in comparison with the average number for the 2022’s January-March quarter.

    MENAFN15092022000045014228ID1104868615

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