Iran oil production increases by nearly 19% in 9 months

Iran’s oil production increased by 18.8 percent in the first nine months of 2016, reaching 3.92 million barrels per day (mb/d), the US Energy Information Agency (EIA) says.

According to Press TV, Iran’s oil output, including gas condensate, stood at 4.170 mb/d in September, about 870,000 b/d more than September 2015, the EIA said in a report.

It added that Iran’s oil production in September was the highest since late 1980s.

The Organization of the Petroleum Exporting Countries (OPEC) said Iran’s oil production reached a new record high of 3.665 million barrels per day (mb/d) in September.

Iran has announced that it produced over 560,000 b/d of gas condensate in September.

Iran is presently OPEC’s third largest producer after Saudi Arabia and Iraq. 

SS