Recent figures by the US Energy Information Administration suggest that Iran has produced as much as 2.54 million b/d of crude oil in 2022.
That is while the country had produced an average 2.4 million b/d of crude oil in 2021 which shows that Iranian daily oil output has increased by 140,000 barrels in comparison to figures from the preceding year.
According to the EIA report, Iran’s daily oil output in December 2022 stood at 2.58 million b/d up 20,000 barrels MOM, also showing a 130,000 b/d increase compared to the same month in 2021.
Iran’s oil production continues to rise while the sanctions on the country’s oil industry, the Islamic Republic’s main source of revenue, still remain in place.
The EIA figures also put OPEC’s oil output in December 2022 at 28.93 million b/d which show a daily 190,000 barrels increase YOY.
Saudi Arabia, Nigeria, Libya, Iraq and Angola increased their production in December with Gabon and Kuwait reducing their output. Algeria, Congo, the UAE, Venezuela and Guinea have kept their production unchanged.