OPEC oil output rose in August as Iranian supply rose to its highest since 2018, a Reuters survey found on Thursday.
The increase in Iran’s oil output takes place despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance.
The Organization of the Petroleum Exporting Countries has pumped 27.56 million barrels per day (bpd) this month, the survey found, up 220,000 bpd from July.
That's the first rise since February, according to Reuters surveys.
OPEC has exempted Iran from participation in production cuts so the country increased its oil output in 2023 despite the US sanctions on Tehran.
Iran’s Deputy Oil Minister Mohsen Khojastehmehr said last month that the country is expected to produce as much as 3.5 million barrels per day (bpd) by late September despite tough Western sanctions.