OPEC Oil Prices

Iran, second OPEC oil producer again

opec-building-with-logoTEHRAN, Jan. 26 (MNA) – The latest oil production statistics shows that Iran have become the second oil producing country in OPEC once again with over 3 million barrels of oil daily.

Some of the Western Media recently reported that Iran’s oil production ranking is third after Iraq and Saudi Arabia among OPEC members. But studies show that Iran continues to be in the second place.

Iraq Oil Minister recently announced that Iraq had discovered new oil field close to Iranian border and could produce 3 million barrels a day, but they are exporting about 75% of its capacity now.

An Iranian Oil Industry official recently announced that despite of EU oil sanction against Iran, production has increased and Iran is now producing 3.250 million barrels daily. Over 800, 000 barrels are dedicated to domestic consumptions and Iran still has the second place among OPEC members.

The EU sanction has helped create a golden opportunity for Iran to become less dependent on oil export for revenue, and look more into other industrial exports. Economic experts believe that Iran with over 75 million population and over 3.250 barrels of oil has managed its economy, much better than Saudi Arabia which has only 22 million populations and produces over 9.7 million barrels of oil.

Saudi family rulers have been criticized by many Saudi Arabian NGOs for the excessive production of oil resources and questions have been risen as to who are the beneficiaries of oil income and where and how are they being spent. Since their lesser population and larger oil production are not comparable to that of Iran and other OPEC members.

By Mehr News


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