Crude oil output in Iran fell to 2.762 million barrels per day (bpd) for the month of July, down 9,800 bpd from June.
According to a monthly statement released by OPEC Iran’s output increased by 86,000 bpd in 2Q14 compared to 4Q13.
The Islamic republic produced 3.247 million bpd of oil (including the 0.4 million bpd of gas condensate and 0.1 million bpd of NGLs) in the first four months of 2014, up by 131,000 bpd from the previous year (according to July 28 EIA report).
Iran’s crude oil export has increased by 0.1 million bpd in 1H14, according to the International Energy Agency’s latest monthly report, published in July.
OPEC stated that its own total crude oil production averaged 29.91 million bpd in July, up 0.17 million bpd from the previous month. Global oil supply however increased by 0.08 million bpd in July, averaging 90.98 million bpd, with non-OPEC supply falling 0.09 million bpd.
