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FinancialNews


  • 19-02-23

    OPEC: Iranian heavy crude oil rate surges more than 3 percent last month

    (MENAFN) Iranian heavy oil rates rose by USD2.45 last month to record a 3.1 percent rise in comparison with December 2022, in line with OPEC’s most recent month on month report issued on February 14.

    The Iranian heavy crude oil rate amounted to USD81.56 a barrel in the opening month of last year, in contrast with December’s USD79.11 a barrel.

    In line with the report, the nation’s average heavy crude rate stood at USD85.59 last year.

    The average rate of Iranian oil in the opening month of this year recorded a decline of USD4.03 in contrast with the same month in last year. The cost of Iranian heavy crude in the January period of 2022 stood at USD85.59 a barrel, on average.

    The report recorded Iranian crude production for January at 2.557 million barrels per day (bpd) showing a 22,000 bpd drop in contrast with the number for the prior month.

    MENAFN19022023000045014228ID1105597147

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