Iran produces 2.08mn bpd of crude in Jan. 2020: OPEC

TEHRAN, Feb. 14 (MNA) – According to the latest report of OPEC, Iran produced 2.086 million barrels of crude oil per day in the first month of 2020.

The figure shows a decrease of 9,000 barrels compared to December 2019.

According to the same report, OPEC members produced 28.859 million barrels of crude in January 2020, while the figure shows a fall of 509,000 barrels in comparison with the month before.

Iran's crude oil price stood at $2.61 in the said time, down -1.9 percent compared to December 2019.

On February 8, Iranian Minister of Oil Bijan Namdar Zangeneh said the country could support deeper cuts in crude oil output of the Organization of the Petroleum Exporting Countries (OPEC) if a majority of the members agreed with it.

Zangeneh said if an early ministerial meeting was to be held, an agreement had to be made prior to the meeting rather than discussing an agreement during the meeting.

“If there is no prior agreement, it would be futile to attend a meeting without an agreement because this would help lower the oil prices in the global market,” he argued.

“They may reduce the output as much as they would want to,” he said when asked about Iran’s stance on deepening OPEC output cuts.

MNA/TNA2202582

News Code 155606

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