Aug 09 2014
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OPEC: Iran's monthly crude oil output declines by 10 kbpd
Iran's crude oil output increased by 86,000 bpd in 2Q14 compared to 4Q13, according to a monthly report based on secondary sources, released by OPEC Aug. 8.
Iran and the six world powers including the U.S., the U.K, France, Germany, Russia and China reached an interim nuclear deal Nov.23, 2013. The agreement entered into force Jan.20, 2014 and extended by Nov.23, 2014.
Iran produced 3.247 mbpd of oil (including the 0.4 mbpd of gas condensate and 0.1 mbpd of NGLs) in first four months of 2014, increased by 131,000 bpd, compared with that of last year, according to the U.S. Energy Information Administration's (EIA) report, published July 28.
OPEC also said that in total, OPEC's crude oil production averaged 29.91 mbpd in July, according to secondary sources, up 0.17 mbpd from the previous month.
Preliminary figures indicate that the global oil supply increased by 0.08 mbpd in July to average 90.98 mbpd. Non-OPEC supply saw decline of 0.09 mbpd, while OPEC crude production increased by 0.17 mbpd.
OPEC says that the OPEC Reference Basket fell by $2.28 and stood at $105.61 per a barrel in July, compared to the previous month. Iran's heavy crude oil price decreased by -$1.24 and amounted to $106.21 in July.
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