Iran increased oil production by 7% over the last year

Tasmin Agency, referring to the OPEC report, states that the production of black gold in Iran has risen to 2.5 million bpd in 2022. The growth was 7%. At the same time, the cost of Iranian oil increased by 43% and now is $99.9. 

According to the agency's information, on average, Iran was producing 2 554,000 bpd in 2022. Thus, during this time, Iran increased its oil production by almost 7% compared to the previous year.

Tasmin refers to the report and notes that in 2022, Iran became the fifth among the main producers of OPEC. Other places were distributed as follows: first place — Saudi Arabia (nearly 10 million), second — Iraq (4.5 million), third — UAE (3 million), and fourth — Kuwait (2.7 million).

The agency also states that in 2022 the cost of oil from Iran increased by 43% compared to the year before. The cost of a barrel of heavy oil reached $99.9. Congo has the lowest cost per barrel among OPEC countries ($3.7), while Algeria has the highest ($104.2).