Iran’s oil price announced by OPEC

According to Energy Press, the average price of a barrel of Iranian heavy oil reached $60.87 in January, down 57 cents from $61.44 in December. The average price of a barrel of Iranian heavy oil has been $60.87 since the beginning of 2026, down 61 cents from $79.65 in the same period in 2025.

The average OPEC oil basket in January reached $62.31 a barrel, up 61 cents from $61.70 in December. The average OPEC oil basket since the beginning of 2026 was $62.31 compared to $79.38 in the same period in 2024.

According to the latest OPEC monthly oil market report released on Wednesday, the group’s oil production in January fell by 135,000 barrels per day compared to December 2025, reaching about 28.45 million barrels per day.

The largest increase in oil production was from Iraq, which increased by 38,000 barrels per day to 4.2 million barrels per day, while Venezuela recorded the largest production decline last month, with its production falling by 87,000 barrels per day to 830,000 barrels per day.

According to OPEC secondary sources, Iranian oil production fell by 81,000 barrels per day to 3.129 million barrels per day.

OPEC allies’ production in the OPEC+ group fell by 305,000 barrels per day to 13.996 million barrels per day.