{"id":12699,"date":"2024-12-13T09:11:28","date_gmt":"2024-12-13T09:11:28","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=12699"},"modified":"2024-12-13T09:11:28","modified_gmt":"2024-12-13T09:11:28","slug":"irans-oil-output-rises-by-37000-bpd-in-november-opec-reports","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/12699\/","title":{"rendered":"Iran\u2019s oil output rises by 37,000 bpd in November, OPEC reports"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Iran\u2019s crude oil production increased by 37,000 barrels per day (bpd) in November compared to the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).<\/p>\n

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The report, based on secondary sources, indicates that OPEC\u2019s 12 member countries collectively produced 26.657 million bpd in November, up 104,000 bpd from October\u2019s output of 26.554 million bpd.<\/p>\n

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Saudi Arabia led OPEC\u2019s production with 8.963 million bpd, followed by Iraq at 4.043 million bpd and Iran at 3.323 million bpd, making them the organization\u2019s top three producers.<\/p>\n

OPEC+ members, including OPEC allies, produced 14.008 million bpd in November, an increase of 219,000 bpd compared to October\u2019s 13.788 million bpd.<\/p>\n

Together, OPEC and its allies raised crude oil production by 323,000 bpd in November, reaching a total of 40.665 million bpd, up from 40.342 million bpd in October.<\/p>\n

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Iran\u2019s crude prices drop in November<\/strong><\/p>\n

OPEC\u2019s monthly report also showed a decline in the price of Iran\u2019s heavy crude oil. In November 2024, it fell by $1.25 per barrel (a 1.7% decrease) to $72.81, compared to $74.06 in October 2024.<\/p>\n

The average price of Iran\u2019s heavy crude in 2024 so far has been $80.30 per barrel.<\/p>\n

The OPEC basket price averaged $72.98 per barrel in November 2024, marking a $1.47 (2%) increase compared to October 2024.<\/p>\n

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Oil demand outlook<\/strong><\/p>\n

OPEC\u2019s report forecast an increase in global oil demand for November, projecting a rise of 110,000 bpd compared to October.<\/p>\n

For 2025, OPEC anticipates global oil demand will grow by 1.45 million bpd, reaching a total of 105.57 million bpd.<\/p>\n

However, this projection is 30,000 bpd lower than the estimate provided in the previous month\u2019s report.<\/p>\n

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