OPEC: Iran’s Oil Production Declined by Another 142,000 Barrels in June

The latest monthly OPEC report indicates that Iran’s oil production in June declined by 142,000 barrels per day compared to the previous month, reaching 2 million and 225,000 barrels per day.

Before the full return of American sanctions, Iran’s daily oil production was above 3.8 million barrels.

It is also estimated that Iran’s oil exports have fallen below 300,000 barrels per day. This figure was more than 2.5 million barrels per day before the sanctions.

The United States withdrew from the JCPOA in May of last year and ended the waivers for Iran’s oil customers as of May of this year.

In the OPEC monthly report, it is also stated that the total oil production of member states in June declined to 29 million and 830,000 barrels, the main reason being the decline in oil production from Iran and Venezuela.

OPEC’s total oil production in 2017 was slightly over 32 million barrels per day.

Source: Radio Farda