OPEC: Iran’s oil output drops by 46, 800 bpd

By The Journal of Turkish Weekly

OPEC released a new monthly report on November 10 about member’s crude oil output, saying Iran’s oil production decreased again by 48,000 barrels per day in October compared to Septrember and fell to 2.626 million barrels per day.

According to OPEC report based on secondary sources (OPEC’s own resources and credible international organizations’ stats ), Iran’s daily oil output has fallen to this figure from 3.628 mbpd in 2011.

However, Iran has refused to proved October oil output figures to OPEC, meanwhile, statistical data that Iran’s Oil Ministry submitted to OPEC (direct communication) shows that Iran produced about 3.739 mbpd in September, which indicates a huge amount difference with OPEC statistics.

Iran is OPEC’s forth oil producer after Saudi Arabia, Iraq, Kuwait and UAE. According to OPEC’s report, the 12 member countries’ crude oil output was 30.946 mbpd in October, 946 mbpd of crude oil more than OPEC ceiling.
Opec members are Saudi Arabia, Iraq, Venezuela, Libya, Kuwait, Ecuador, Nigeria, Qatar, UAE, Iran, Algeria and Angolia.

After imposing sanctions by the U.S. and EU on Iran’s oil export, which are took force respectively in June 28 and July 1, Iran’s daily crude oil export also droped to around one mbpd, indicates about 1.4 mbpd decrease compared to mid 2011.

The western countries fear that Iran’s nuclear program is aimed to nuclear weapon generation. Iran insists that it’s nuclear program is peaceful.


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