Iran became the leader in increasing OPEC oil production
According to Webangah News quoted by Mehr News Agency, the OPEC secondary source report shows that Iran produced 3.316 thousand barrels of crude oil in September, which is 21 thousand barrels more than the month of It was August 2024 (August-September).
According to the report of secondary sources, in September, 12 members of this organization produced 26 million and 44 thousand barrels of oil, which is 604 thousand barrels less of 26 million and 648 thousand barrels in the month of August.
According to OPEC September report, after Saudi Arabia with daily production of 8 million 971 barrels and Iraq with daily production of 4 million 112 thousand barrels, Iran with daily production 3 million and 316 thousand barrels per day maintained the position of the third producer of this organization.
Increase in Iran’s oil production despite OPEC production decline
Iran’s oil production increased by 21,000 barrels per day last month, while Saudi Arabia’s production decreased by 23,000 barrels and Iraq’s production by 155,000 barrels in that month. is.
This report shows that among the OPEC member countries, Iran had the largest increase in oil production in September (September – October) and while the total OPEC members’ oil production has decreased by 2.3%, Iran’s oil production has registered a growth of 0.6% in the last month.
Also, the oil production of OPEC Plus members increased by 47 thousand barrels per day in September (September-October) and increased from 14 million and 13 thousand barrels per day in The month of August has reached 14 million 60 thousand barrels. However, Russia’s oil production showed a decrease of 28,000 barrels per day last month.
In total, the member countries of OPEC and OPEC Plus in September (September-October) reduced their crude oil production by 557 barrels from 40,661,000 barrels per month. August have reached 40 million and 104 thousand barrels.
OPEC oil supply cut in September 2024
According to the report of secondary sources, Iran produced 3 million and 316 thousand barrels of crude oil in September, which is 21 thousand barrels more than the month
span style=”text-align:justify”>It was August 2024.
According to this report, the production of four members of this organization including Iran, Venezuela, Ecuador and Kuwait increased during the period under review, with the largest increase in production with 21,000 barrels. During the day, it is related to Iran. Iran, Venezuela and Libya are exempted from the agreement to reduce the supply of producers of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC (OPEC Plus).
According to the latest OPEC monthly report, the price of Iranian heavy crude oil in September compared to August 2024, 4 dollars and 4 cents has decreased by 5.2%. The price of Iranian heavy crude oil in September 2024 was 73 dollars and 59 cents, while this figure was 77 dollars and 63 cents per barrel in August 2024. .
Reduction of 210 thousand barrels of oil demand forecast
The average price of Iranian heavy crude oil in 2024 was 81 dollars and 85 cents. The price of OPEC oil basket in September 2024 reached 73 dollars and 59 cents per barrel, which is 4 dollars and 82 cents (6.1%) more than in August. > It is 2024.
According to the latest monthly report of the OPEC secretariat (October), the global crude oil demand for 2024 will increase by 1.640 thousand barrels per day. The total world oil demand for 2024 is predicted to be 104 million and 140 thousand barrels. According to the OPEC report, the demand forecast for crude oil in October shows a decrease of 100 thousand barrels compared to September.
OPEC in its monthly report also predicted that global oil demand will increase by 1.640 million barrels per day in 2025 and total 105.780 million barrels per day. reach This forecast is 210 thousand barrels less than the previous month.
