TEHRAN-  According to OPEC’s latest monthly report published on July 12, Iran’s oil output in June reached 3.790 million barrels per day (bpd), a 16.7 percent rise from 3.774 million bpd in May based on secondary sources.

The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil production in June reached 3.880 million bpd, a 13 percent decline from 3.893 million bpd in May.
Meanwhile, Iran’s oil exports to Europe and Asia stood at 2.15 million bpd in June, IRNA reported on Monday citing Oil Ministry’s website.
According to the report, Iran’s oil exports hovered around 2.1 million bpd on average since the beginning of 2017 of which near 1 million barrels were sent to the European markets.
After the implementation of the nuclear accord (called JCPOA), Iran has been seeking the expansion of its target markets and as a result the oil exports to Europe rose by more than 300 percent since then.
Earlier this month, OPEC released its Annual Statistical Bulletin report in which they said Iran’s oil exports in 2016 reached 1.921 million bpd, a 77.6 percent rise compared to 2015.
The country’s crude exports stood at 1.081 million bpd in 2015 which indicates that the 2016 figure is 840,000 bpd more than that of the 2015 average.

MA/MG