According to a report published in the Iranian oil ministry portal, Iran’s heavy crude price reached $79.65 per barrel in January.
OPEC’s February report also revealed that Iran produced 3.28 million barrels daily in January, maintaining its position as the third largest producer within the organization.
Secondary sources cited in OPEC’s February report found that in January 12 members of the organization produced 26.678 million barrels (BPD) per day, up from 26.8 million bpd in December, the organization’s 12 members produced 26.678 million bpd per day. indicates a decrease in.
Saudi Arabia, Iraq and Iran were OPEC’s top three producers in January 2025. Saudi Arabia led with 8.937 million bpd, with Iraq at 3.999 million bpd, and Iran with 3.28 million bpd.
Meanwhile, OPEC+ members produced 13,947 million bpd in January. This was just 3,000 bpd from 13.943 million bpd in December.
Total crude oil production by OPEC and its allies reached 40.625 million bpd in January, reaching 118,000 bpd from 40.743 million bpd in December.
OPEC’s latest monthly report shows that Iran’s heavy crude oil prices in January 2025 averaged $79.65 per barrel, up from $73 per barrel in December.
The average price of heavy crude oil in Iran in 2024 was $80.14 per barrel.
OPEC basket prices also rose in January, reaching $79.38 per barrel, an increase of $6.31 (8.6%) compared to December 2024.
OPEC’s February report predicts global crude oil demand will increase by 1.45 million bpd in 2025, reaching a total of 105.2 million bpd.
The organization also predicted that global oil demand will increase by 1.43 million bpd in 2026 to reach 1663 million bpd.
MNA