OPEC puts Iran’s Sept. oil out­put at 3.447m bpd

Tehran Times - - ECONOMY -

TEHRAN — Iran pro­duced 3.447 mil­lion bar­rels per day (bpd) of oil in Septem­ber, a 150,000 bpd de­crease from 3.597 mil­lion bpd in Au­gust, ac­cord­ing to OPEC’s lat­est monthly re­port pub­lished on Thurs­day cit­ing sec­ondary sources.

The OPEC’s re­port also put Iran’s oil out­put based on di­rect com­mu­ni­ca­tion at 3.755 mil­lion bpd, down 51,000 bpd com­pared to Au­gust.

Mean­while, the coun­try’s av­er­age heavy oil price was $75.28 in Septem­ber, up $4.82 or 6.8 per­cent from $70.46 in Au­gust.

The re­port also put av­er­age Ira­nian heavy crude price at $68.70 since be­gin­ning of 2018 up to the re­port’s pub­lish­ing day.

Ira­nian oil in­dus­try has been un­der pres­sure from the U.S. ef­forts to iso­late the coun­try by reim­pos­ing sanc­tions.

The new round of sanc­tions tar­get­ing Iran’s oil sec­tor are due to be put in ac­tion on Novem­ber 4.

How­ever, in a re­cent re­port, Reuters quoted a U.S. govern­ment of­fi­cial as say­ing the Trump ad­min­is­tra­tion is “in the midst of an in­ter­nal process” of con­sid­er­ing waivers for coun­tries that are re­duc­ing im­ports of Ira­nian crude.

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