Iran's oil production record despite continuation of sanctions

Tehran (IP) - Iran's oil production in the first month of 2022, despite the continuation of economic sanctions, increased by 21,000 barrels to over 2.5 million barrels per day, which is the highest level in the last three years.

Iran PressIran News: The US State Department has announced sanctions waivers on Iran's civilian nuclear program in a technical step necessary to return to the 2015 nuclear agreement, a senior official said on Friday, Feb.4, 2022.

 According to the Organization of Petroleum Exporting Countries (OPEC), Iran produced 2 million 503 thousand barrels of crude oil in January, which is 21 thousand barrels more than in December.

This production level is unprecedented in the last three years after the full implementation of all previous sanctions and the addition of new sanctions.

The price of Iranian heavy crude oil, which is one of the leading oils in OPEC portfolio pricing, has also been accompanied by production growth and, in the first month of 2022, has been accompanied by an increase of about $ 11 per barrel.

According to the latest OPEC report, the price of Iranian heavy crude oil increased by 14.6% in January compared to $ 10 and 91 cents in December.

The average price of Iranian heavy crude oil in 2021 was 54 dollars and 38 cents and in 2020 was 40 dollars and 77 cents.

The OPEC Secretariat announced that demand for oil in 2022 will reach 100 million and 80 thousand barrels per day, which is four percent more than the previous forecast.

In addition to increasing Iran's oil production, oil exports have also increased.

Reuters also recently published a report that, according to statistics from oil tanker trucking companies, Iran's daily oil exports at the end of December 2021 reached over one million barrels per day, the highest level in three years.


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