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Iran second-largest producer of liquid fuel within OPEC

Monday 13 May 2024
Iran second-largest producer of liquid fuel within OPEC

ALWAGHT- Surpassing Iraq, Iran has now assumed the position of the second-largest producer of liquid fuel among the member countries of the Organization of Petroleum Exporting Countries (OPEC).

According to the US Department of Energy, Iran's production of liquid fuel surged by 110,000 barrels during the first quarter of the current year (January to March).

Identified as the leading producer of this commodity in OPEC after Saudi Arabia, Iran's output reached 3.230 million barrels of oil per day (bpd) in the first quarter of 2024, according to the latest report from the Energy Information Administration, a division of the US Department of Energy.

During this period, Iran's crude oil production experienced a rise of 50,000 barrels per day compared to the same period last year.

The report further stated that Iran averaged over 2.870 million barrels of oil per day in 2023. It anticipates that Iran's crude oil production will surpass three million barrels per day in 2024.

According to the department's findings, the total production of Iran's liquid fuel, comprising both crude oil and condensates, reached 4.42 million barrels per day in the first quarter of 2024.

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Iran Islamic Republic of Liquid Fuel OPEC

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