Iran’s heavy oil became cheaper

According to Energy Press, the Organization of the Petroleum Exporting Countries (OPEC) in its monthly report on the oil market, announced that the price of a barrel of Iranian heavy oil in September reached 73 dollars and 59 cents, compared to 77 dollars and 63 cents in August. , 4 dollars and 4 cents, equivalent to 5.2% decrease. The average price of Iranian heavy oil since the beginning of 2024 has reached 81 dollars and 85 cents compared to 82 dollars and 37 cents in the same period of 2023.
The value of the OPEC oil basket in September decreased by 4 dollars and 82 cents, equivalent to 6.1%, and reached 73 dollars and 59 cents per barrel. The average value of the OPEC oil basket since the beginning of 2024 reached 82 dollars and 2 cents per barrel compared to 82 dollars and 12 cents in the same period last year.
According to OPEC secondary sources, OPEC oil production, which consists of 12 countries, reached 26.04 million barrels per day in September, which was down 604,000 barrels per day on a month-on-month basis. Oil production increased in Iran and Kuwait, while it decreased in Libya, Iraq, Nigeria and Saudi Arabia.
At the same time, the total oil production of OPEC allies in the OPEC+ group reached 14.06 million barrels per day last month, which increased by 47 thousand barrels per day on a month-to-month basis.
According to the statistics of secondary sources, Iran’s oil production in September reached 3.316 million barrels per day, with an increase of 21 thousand barrels per day.