Latest figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iran’s crude output rose slightly in September to reach 2.503 million barrels per day (bpd).
The figures, published in a report by Iran’s Fars news agency on Saturday, showed that Iran’s September oil output had increased by 21,000 bpd or 0.84% compared to production figures reported in August.
OPEC gathers its crude output data based on information provided by secondary sources.
Monthly output tables provided by the organization this year have shown that Iran has managed to increase its crude production against figures reported in 2020.
Analysts believe the surge proves Iran is actually exporting more crude despite continued American pressure on its energy sector.
Iran was the third largest OPEC producer before Washington imposed its sanctions on the country’s crude sales in 2018.
Iranian Oil Ministry authorities have repeatedly announced that they can swiftly ramp up crude output to pre-sanction levels of around 3.8 million bpd if the country and global powers reach an agreement on reviving a 2015 nuclear deal.
OPEC’s recent report said that the average price for Iranian crude was $74.08 per barrel, an increase of over 5% compared to the previous month.
The report said that OPEC’s total output had reached 27.328 million bpd in September, up 1.8% against August.