Reuters: Iran Oil Output Highest since 2018
Based on the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 26.70 million barrels per day (bpd) in July, up 100,000 bpd from June, citing shipping data and information from industry sources.
It added that “Iran has been boosting exports in the last few years despite U.S sanctions”.
Reuters said that its survey aims to track supply to the market and is based on shipping data provided by external sources, LSEG flows data, information from companies that track flows - such as Petro-Logistics and Kpler - and information provided by sources at oil companies, OPEC and consultants.
Earlier, outgoing Petroleum Minister Javad Owji, in a report to the last ministerial meeting of the 13th administration on July 24 said that the 13th administration, during its 3 years in office, succeeded in turning the Achilles’ heel of sanctions into value-added.
In that report, pointing to rising oil exports, he said that while the volume of oil exports stood at 269 million barrels five years ago, they reached 565 million barrels last year and 208 million barrels during the first four months of the current Iranian calendar year, since 20 March 2024.
“Similarly, oil revenues rose from 9.8 billion dollars to 36 billion dollars during the corresponding period and reached 14.5 billion dollars during the first four months of the current year,” he added.
Owji noted that during the 13th administration, oil and natural gas production rose by 63 percent and 6 percent respectively, which, according to him, drew the attention last year at the Algeria conference in which the gas exporting countries confirmed Iran as the only country with a 5 percent rise in natural gas production against the rising average of 2.5 percent by other gas exporting countries.
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