The Organization of Petroleum Exporting Countries (OPEC) in its latest report put Iran’s crude oil output volume in October of the current year at 3.115 million bpd.
OPEC’s total oil output volume in October 2023 hit 27.9 million barrels bpd, registering an 80,000-barrel hike.
According to this report, the price of each barrel of Iran’s heavy crude oil in the reported month reached $91.55, showing a $3.08 decline compared to a month earlier.
This is while the average rate of OPEC’s oil per barrel in October 2023 was $91.78, showing a $2.82 down compared to a month earlier.