Iranian heavy crude oil price rises $4.35 per barrel in April: OPEC

MNA – Iranian heavy oil price increased $4.35, according to OPEC’s latest monthly report to reach $68.5 in April.

As the same report confirmed, the average price of Iranian crude oil in 2017, stood at $49.60 per barrel and in 2018 at $64.25 per barrel.

In the first four months of 2019, the prices hovered around $62.53 per barrel, the report added.

According to previous reports, in March 2019, Iranian crude oi price stood at $64.14 per barrel. Iran produced 2.698 million barrels per day (bpd) of oil in the said month, a 28,000 bpd decrease from 2.726 million bpd in the preceding month.

The average Iranian crude output for the Q1 2019 was 2.714 million barrels per day indicating a near 264,000-bpd fall compared to the figure for Q4 2018.

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