Iran oil
According to a report issued by the Organization of the Petroleum Exporting Countries (OPEC), Iran’s oil production witnessed an increase of 21,000 barrels per day in January, reaching the highest level in the past three years.
Despite the continuation of economic sanctions on it, Iran’s production of crude oil reached more than 2.5 million barrels per day in the first month of the new year, according to what OPEC announced in its latest report on oil production by member countries.
With the recent increase approved by the OPEC + meeting, the production of OPEC member states approached crude to 28 million barrels per day.
According to the relevant sources, the 13 OPEC member countries produced 27.981 million barrels per day in January, an increase of 64,000 barrels per day compared to 27.918 million barrels per day from December.
The report indicates that Iran produced 2.503 million barrels per day of crude oil, an increase of 21,000 barrels per day from the level of production in December.
The recent amount of Iran’s crude oil production was unprecedented following the United States’ unilateral withdrawal from the 2015 nuclear deal also known as the Joint Comprehensive Plan of Action in May 2018 and the reimposition of the embargo on Iran.
Moreover, the price of Iranian heavy crude oil witnessed a rise of regarding $11 per barrel in January 2022, and the price of Iranian heavy crude oil exceeded $54 in 2021, while it was in the range of $40 in 2020.
The OPEC secretariat had announced that the demand for crude oil in 2022 would amount to 100.080 million barrels per day, which indicates an increase of more than 4% compared to previous estimates.
For its part, “Archyde.com” quoted a tanker tracking agency as saying that Iran’s daily oil exports rose to more than one million barrels per day in December 2021.
According to the report, the US administration has not sanctioned Chinese companies, which are the main importers of Iranian crude oil, for violating US-imposed sanctions.
