Iranian heavy crude oil price rises $4.35 per barrel in April: OPEC

MNA – Iranian heavy oil price increased $4.35, according to OPEC’s latest monthly report to reach $68.5 in April.

As the same report confirmed, the average price of Iranian crude oil in 2017, stood at $49.60 per barrel and in 2018 at $64.25 per barrel.

In the first four months of 2019, the prices hovered around $62.53 per barrel, the report added.

According to previous reports, in March 2019, Iranian crude oi price stood at $64.14 per barrel. Iran produced 2.698 million barrels per day (bpd) of oil in the said month, a 28,000 bpd decrease from 2.726 million bpd in the preceding month.

The average Iranian crude output for the Q1 2019 was 2.714 million barrels per day indicating a near 264,000-bpd fall compared to the figure for Q4 2018.

Iranian oil industry has been under pressure from the US efforts to isolate the country by reimposing sanctions.

Source Article from https://theiranproject.com/blog/2019/05/15/iranian-heavy-crude-oil-price-rises-4-35-per-barrel-in-april-opec/

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