In its monthly report, the Organization for Petroleum Exporting Countries (OPEC) indicated that Iran’s crude oil production in June reached 3.629 million barrels per day (bpd) while the figure for June stood at 3.617 bpd.
“The average price of Iran's heavy crude oil in July was 3.9 dollars lower than the earlier month,” the report read.
Iranian heavy crude was sold at 41.59 dollars per barrel in July while the average price for July was 44.68 dollars.
Global oil demand in the first and second quarters of the current year was 93.160 and 93.440 million bpd, respectively, while the amount is expected to climb to 95.220 million bpd in the third quarter.
Following the implementation of the Joint Comprehensive Plan of Action (JCPOA), Iran raised its oil exports and it reached 2.1 million barrels per day from one million bpd.
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