Iran’s Crude Oil Output Hits 3.25 Million BPD In March

Iran produced 3.25 million barrels of oil per day (bpd) in March 2024, showing a hike compared to a month earlier, the US Energy Information Administration (EIA) announced in its latest report. 

According to the report, Iran had produced 3.230 million bpd in February 2024.

Iran has produced an average of 3.230 million barrels of oil per day in the first quarter of the current year (January to March).

With an increase of 630,000 barrels in oil production over the past year, Iran had the highest production rise among OPEC members, according to EIA.

Gabon, Nigeria, and Venezuela have been the only other OPEC members to increase production over the past year. The production of Gabon increased by 10,000 bpd, Nigeria by 40,000 bpd, and Venezuela by 90,000 bpd.

Based on the EIA report, Iran maintained its position as the organization’s third oil producer in March.