49594
August Oil Output at 3.63 mbpd
Energy

August Oil Output at 3.63 mbpd

Iran has told the Organization of Petroleum Exporting Countries it pumped 3.63 million barrels of oil per day in August, up 10,000 bpd from July, an OPEC source said, marking a slowdown in the rapid growth that followed the lifting of international restrictions against its nuclear program in January.

Iran has so far insisted that it will not be part of a deal between OPEC and non-OPEC Russia on freezing crude production to boost prices, as the country is on track to recoup the market share it lost under sanctions. Renewed talks on an output pact are under way, Reuters reported.

The Iranian production figure is due to be published on Monday in the OPEC’s monthly report. The report will also show the secondary sources OPEC uses to estimate its output also see Iran’s August production at 3.63 million bpd, unchanged from July.

The latest OPEC figures suggest Iranian production has reached the level it pumped in late 2011, before the last round of sanctions were tightened leading to a drop in Iranian exports.

Iran’s Oil Ministry said this month that crude output has surpassed 3.8 million barrels a day. The figure includes gas condensates, a type of light, sweet crude extracted from the country’s gas reserves in the Persian Gulf.

Short URL : http://goo.gl/yMpMIU
  1. http://goo.gl/XoKdhk
  • http://goo.gl/PnHxXF
  • http://goo.gl/lKatfp
  • http://goo.gl/EdCgWl
  • http://goo.gl/rMgXmB

You can also read ...

OPEC: India Oil Demand Rising Rapidly
India’s oil demand is expected to rise by 5.8 million barrels...
Russia Oil Minister, Zanganeh Discuss Cooperation in Moscow
Russian energy minister Alexander Novak discussed bilateral...
Oil Trading Listed on Iran Energy Exchange
Iran officially started spot oil trading on its energy...
Iran Petrochem Export Revenue in 6 Months Reaches $6.3b
Petrochemical output reached 27.3 million tons in the first...
Concern Over Loss of Qom Salt Lake
Namak (Salt) Lake in Qom Province is drying up and if it is...
Zanganeh: Sanctions Undermine International Oil Market
Inadequate supplies are posing serious challenges to the...

Trending

Googleplus