OPEC Oil Output the Lowest, Iran the Highest
Reuters announced Iran as the only member of Opec which its oil production rose in September 2024.
RoydadNaft – Reuters announced Iran as the only member of Opec which its oil production rose in September 2024.
OPEC oil output fell to its lowest level in September this year, a survey by Reuters found, adding “The Organization of the Petroleum Exporting Countries pumped 24.16 million barrels per day last month, down 390, 000 bpd from August revised total.”
The Reuters survey says that Libya accounted for the bulk of cut which its supply cut stood at 300.000 barrels per day in September. Iraq and Nigeria were the two other OPEC members which their oil output fell last month.
Reuters survey announced that “among countries posting higher output, the only gain was in Iran, which is also exempt from OPEC Targets.”
“Iran has been boosting exports in the last few years despite US sanctions remaining in place and is pumping near its highest levels since 2018.”
Meanwhile, according to the survey “OPEC pumped about 130.000 bpd more than the implied target for the nine members covered by supply cut agreements.
