A recent report by the US Energy Information Administration (EIA) has revealed that Iran was the second biggest producer of oil and liquid fuels among OPEC members in the first quarter of 2024.
The report said that Iran has produced as much as 4.42 million barrels per day (bpd) of oil and liquid fuels in January-March 2024 which is up from 4.31 million bpd produced in the last quarter of 2023.
Iran’s production outpaced that of Iraq and the UAE which stood at 4.40 and 4.16 million bpd respectively.
Iran was OPEC’s second producer of oil and liquid fuels after Saudi Arabia which produced a total of 10.75 million bpd of the products in the timespan.
The report said that the aggregate production of OPEC members hit 32.04 million bpd in the three-month period.
Iran registered a 3.23 million bpd of oil production in the period under review which is up from 3.18 million bpd in the fourth quarter of 2023, according to the report.
It added that Iran produced an average 2.87 million bpd of oil in 2023.