OPEC puts Iran’s Aug. oil output at 3.584m bpd

September 14, 2018

TEHRAN- Iran produced 3.584 million barrels per day (bpd) of oil in August, a 150,000 bpd decrease from 3.734 million bpd in July, according to OPEC’s latest monthly report published on September 12 citing secondary sources.

The OPEC’s report also put Iran’s oil output based on direct communication at 3.806 million bpd, unchanged compared to July.

Meanwhile, the country’s average heavy oil price was $70.46 in August, down $0.98 or 1.4 percent from $71.44 in July.

The report also put average Iranian heavy crude price at $67.94 since beginning of 2018 up to the report’s publishing day.

Iran shipped nearly 2.1 million bpd of crude and condensates in August, Bloomberg reported earlier this month citing ship-tracking data.

As reported, flows to Europe increased, reaching 355,000 barrels a day in August compared with 323,000 in July.

The shipments of crude and condensate to the country’s three main Asian destinations namely China, India and Japan, decreased in the mentioned month. In total, there are 1.1 million barrels headed to those nations, down from 1.8 million in July.


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