Iran’s oil production at 3.25 million barrels per day

Dec 30, 2012 12:00 AM

Iran has boosted its oil production up to 3.25 million barrels per day (mmbpd), an informed source told the Fars News Agency.

The output has been increased by 150,000 barrels per day, the source said.

"Sanctions at the beginning of 2012 sharply cut Iran's oil output, but the situation went better as time passed."

Further boost of the output and expansion of exports is planned in 2013.

On November 13, the International Energy Agency reported that Iranian oil output rose in October after seven months of decline due to Western sanctions and its exports rebounded strongly as China and South Korea bought more oil.

The IEA said the rebound in Iranian output was adding to a bearish picture of growing oil supply while demand remained depressed due to a weak global economy.

The IEA also added that a new round of sanctions against Iran was likely to further cripple its finances although not necessarily further reduce its oil deliveries to markets.

"With the bulk of Iranian crude now heading to Asia, however, the main impact of the new EU measures will likely be on the country's financial sector," the IEA said.

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences
« September 2017 »
September
MoTuWeThFrSaSu
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30

Register to announce Your Event

View All Events