Iran’s monthly oil production up 26,000 bpd: OPEC

TEHRAN- The latest report from the OPEC Secretariat, citing secondary sources, indicates that Iran's oil production in July 2026 reached 2,478,000 barrels per day, marking an increase of 26,000 barrels compared to June.

According to Shana, the August 2026 report of the OPEC Secretariat shows that Iran's oil production in July experienced an upward trend compared to June.

Based on data from OPEC secondary sources, Iran's oil production in July rose by 26,000 barrels to reach 2,478,000 barrels per day.

Iran had produced 2,451,000 barrels per day in June.

Saudi Arabia, with a daily production of 7,352,000 barrels, remains the top producer among OPEC members.

Iraq also ranks second with a daily production of 2,621,000 barrels.

Total crude oil production by OPEC members reached 23,632,000 barrels per day in July, an increase of 1,659,000 barrels compared to the previous month.

Meanwhile, total crude oil production by countries participating in the OPEC+ cooperation declaration reached 37,655,000 barrels per day in July 2026, showing a daily increase of 1,424,000 barrels compared to June.

In the prices section, the OPEC report indicates a decline in the price of Iran's heavy crude oil in July. The price of this type of oil fell from $90.77 in June to $82.07 per barrel in July.

The OPEC basket price also declined by $6.76 in the same month, reaching $82.99 per barrel.

In its new report, OPEC has forecast that global oil demand in 2026 will rise by about 0.6 million barrels per day, reaching 105.74 million barrels per day.

The outlook for next year is even more optimistic, with OPEC expecting global oil demand to increase by about 2.2 million barrels per day in 2027. This figure has also been revised upward in the new report compared to OPEC's previous estimate.

EF/MA