TEHRAN- The daily oil production of OPEC member countries, according to the latest report from the organization, increased by 164,000 barrels in February, reaching 28.630 million barrels per day. Iran’s share of this increase was 34,000 barrels, which, after Venezuela, represents the highest production growth among member countries.
According to Shana news agency, citing the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC), the total oil production of the 12 member countries of this organization, based on the latest report (March 2026), stood at 28.630 million barrels per day in February 2026, an increase of 164,000 barrels per day compared to January.
Iran’s oil production in February increased by 34,000 barrels per day, reaching 3.176 million barrels per day.
The average daily oil production of Iran in 2025 was 3.263 million barrels, and in 2024 it was 3.257 million barrels.
Saudi Arabia, with a daily production of 10.110 million barrels, and Iraq, with a daily production of 4.188 million barrels, were the largest OPEC producers in February.
OPEC+ members also produced 14.092 million barrels per day in February, an increase of 282,000 barrels compared to the production of 13.810 million barrels per day in January.
Among these, Kazakhstan experienced the largest production increase in February with 293,000 barrels per day.
In total, the daily crude oil production of OPEC member countries and their allies reached 42.722 million barrels in February, an increase of 445,000 barrels compared to January (42.276 million barrels).
According to OPEC’s latest monthly report, the price of Iran’s heavy crude oil in February increased by $5.72 compared to January.
The price of Iran’s heavy crude was recorded at $66.59 in February, while this figure was $60.87 per barrel in January.
The average price of Iran’s heavy crude in 2025 was $78.58.
The price of the OPEC basket of crudes also reached $67.90 per barrel in February, which is $5.59 more than in January.
According to the latest monthly report from the OPEC Secretariat (March), global crude oil demand for 2027 will increase by 1.340 million barrels per day.
Total world oil demand for 2027 is forecast at 107.870 million barrels per day.
MA
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: tehrantimes.com
