Iran awards $500mln worth of contracts to revive low-production oil wells

OPEC reports increased Iranian oil output in February

ran’s production of oil increased in February by an average of 17,000 barrels per day (bpd), according to the latest figures by the Organization of the Petroleum Exporting Countries (OPEC).

Excerpts of the report published by IRNA on Tuesday showed that Iran’s average oil output in February was 2.571 million bpd, up 1.06% from January.

The figures indicated that the price of Iran’s heavy crude oil had also increased in February to reach $81.88.

The average price of Iran’s heavy oil in January and February was $81.72, showed the OPEC figures.



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