The latest OPEC monthly report showed that Iran’s heavy oil prices rose 8.7 percent last month.

The price of a barrel of Iranian heavy oil reached $ 115.48 a barrel in May, up $ 9.20, or 8.7 percent, from $ 106.28 in April. The average price of Iranian heavy oil since the beginning of 2022 has reached 102 dollars and 92 cents compared to the average price of 61 dollars and 94 cents in the same period in 2021.

The value of the OPEC oil basket rose sharply in May to $ 113.87 a barrel, up $ 8.23, or 7.8 percent, from April. The average value of the OPEC oil basket since the beginning of 2022 has reached $ 102 and 80 cents per barrel, compared to $ 62 and 16 cents in the same period in 2021.

According to secondary sources, OPEC oil production, consisting of 13 countries, reached 28.51 million barrels per day in May, down 176,000 barrels per day. The group’s oil production increased mainly in Saudi Arabia, the United Arab Emirates and Kuwait, but decreased in Libya, Nigeria, Iraq, Gabon and Iran. Iran’s oil production in May reached 2.544 million barrels per day, which was 20,000 barrels per day less than the level of 2.565 million barrels per day in April.