According to a report printed within the Iranian oil ministry portal, Iran’s heavy crude worth reached $79.65 per barrel in January.
OPEC’s February report additionally revealed that Iran produced 3.28 million barrels each day in January, sustaining its place because the third largest producer throughout the group.
Secondary sources cited in OPEC’s February report discovered that in January 12 members of the group produced 26.678 million barrels (BPD) per day, up from 26.8 million bpd in December, the second supply mentioned signifies a lower in.
Saudi Arabia, Iraq and Iran had been OPEC’s high three producers in January 2025. Saudi Arabia led with 8.937 million bpd, with Iraq at 3.999 million bpd, and Iran with 3.28 million bpd.
Meanwhile, OPEC+ members produced 13,947 million bpd in January. This was simply 3,000 bpd from 13.943 million bpd in December.
Total crude oil manufacturing by OPEC and its allies reached 40.625 bpd in January, reaching 118,000 bpd from 40.743 million bpd in December.
OPEC’s newest month-to-month report exhibits that Iran’s heavy crude oil costs in January 2025 averaged $79.65 per barrel, up from $73 per barrel in December.
The common worth of heavy crude oil in Iran in 2024 was $80.14 per barrel.
OPEC basket costs additionally rose in January, reaching $79.38 per barrel, a rise of $6.31 (8.6%) in comparison with December 2024.
OPEC’s February report predicts international crude oil demand will enhance by 1.45 million bpd in 2025, reaching a complete of 105.2 million bpd.
The group additionally predicted that international oil demand will enhance by 1.43 million bpd in 2026 to succeed in 163 million bpd.
MNA