Oil Production in Iran Reached 3.25 Million Barrels Per Day in March
The US Energy Information Administration (EIA) announced in its latest report that Iran produced 3.25 million bpd of oil in March 2024, an increase of 20,000 bpd from the previous month.
According to the EIA report, oil production in Iran in February amounted to 3.23 million barrels per day.
Iran produced an average of 3.2 million barrels of oil per day in the first quarter of this year, according to the report.
Iran’s oil production in the first quarter of this year increased by 50,000 barrels per day compared to the fourth quarter of the previous year and by 630,000 barrels per day compared to the first quarter of 2023.
Iran produced 2.6 million barrels per day of oil in the first quarter of last year and 3.18 million barrels per day in the fourth quarter of this year.
Iran’s oil production increased by 630,000 barrels last year, the highest output growth among OPEC members, according to the EIA.
Gabon, Nigeria and Venezuela were the only OPEC members to increase production over the past year. Gabon’s production increased by 10,000 bpd, Nigeria’s by 40,000 bpd and Venezuela’s by 90,000 bpd.
OPEC oil production in the first quarter of last year amounted to 27.380 million barrels per day, decreasing by 720,000 barrels to 26.660 million in the first quarter of 2024.
Iran maintained its position as the organization’s third-ranked oil producer in March, according to an EIA report.
