TEHRAN – Iran’s crude oil production rose by about 200,000 barrels per day (bpd) in July, according to the International Energy Agency (IEA), which reported the country’s output reached 3.27 million bpd.

In its latest monthly short-term energy outlook, the IEA said Iran’s July output increased from 3.08 million bpd in June, marking a gain of 190,000 bpd.

The report showed total oil production by the 12 members of the Organization of the Petroleum Exporting Countries (OPEC) slipped to 28.21 million bpd in July, down 210,000 bpd from June’s 28.42 million bpd.

Oil Minister Mohsen Paknejad told reporters on July 15 that he would not comment on exact production or export figures, but insisted Iran’s crude output and shipments continue as usual. “The situation in this sector is favorable and without problems,” he said.

Separately, the latest OPEC Statistical Bulletin highlighted Iran’s strong year-on-year growth. The data showed that in 2024, Iran recorded the highest annual increase in crude output globally, with production up 13 percent compared with 2023.

Iran’s average daily crude output rose by 374,000 bpd, climbing from 2.88 million bpd in 2023 to 3.26 million bpd this year, the OPEC bulletin said.

The rise comes as Iran seeks to consolidate its position within OPEC and expand its exports despite ongoing Western sanctions that have limited its access to global markets. Analysts say Tehran has increasingly turned to Asian buyers, including China, to sustain and grow exports.

EF/MA