Oil production in Iran registered a 28-percent increase in July compared to the same month in 2020, said local reports on Saturday, August 21.
Iran produced 2.485 million barrels per day or bpd of crude oil in July, said the local reports, quoting the latest figures from OPEC.
Secondary sources said Iran had produced 1.936 million bpd of crude oil in July 2020.
The country’s average crude output for the second quarter of 2021 stood at 2.443 million bpd, indicating a 224,000-bpd increase compared to the figure for the first quarter of the year.
The OPEC report put the average Iranian crude output for 2019 at 2.356 million bpd, while the average output in 2020 fell to 1.988 million bpd.
These statistics show that although Iran’s oil production decreased due to the reimposition of US sanctions, the country gradually compensated for part of the decline.
The country’s heavy crude oil price also increased $1.3 in July, to register a 1.8 percent rise compared to the previous month, according to the OPEC report.
Iran sold its heavy crude oil at $72.98 per barrel in July, compared to June’s $71.68 per barrel.
The country’s average heavy crude price was $65.01 since the beginning of 2021 up to the report’s publishing, in comparison to $38.54 in the previous year’s same period.