The latest figures from the Organization of the Petroleum Exporting Countries (OPEC) show Iranian crude production edged up in September to 2.503 million barrels per day (bpd).

The figures, released in a report by Iran’s Fars news agency on Saturday, showed Iranian oil production in September rose 21,000 bpd or 0.84% ​​from production figures reported in August.

OPEC gathers its gross production data on the basis of information provided by secondary sources.

Monthly production tables provided by the organization this year have shown that Iran has managed to increase its crude production from figures reported in 2020.

Analysts believe the increase proves that Iran is in fact exporting more crude despite continued US pressure on its energy sector.

Iran was OPEC’s third-largest producer before Washington imposed its sanctions on the country’s crude sales in 2018.

Iranian Oil Ministry officials have repeatedly announced that they could quickly increase crude production to pre-sanction levels of around 3.8 million barrels per day if the country and world powers succeed in an agreement on the relaunch of a 2015 nuclear deal.

The recent OPEC report indicates that the average price of Iranian crude was $ 74.08 per barrel, an increase of more than 5% from the previous month.

The report says OPEC’s total production reached 27.328 million bpd in September, up 1.8% from August.
Source: Press TV