Iran's oil prices increased by $6 per barrel in August

According to recent data from OPEC, Iranian oil prices experienced a significant increase of $6.1 per barrel in August.

Iran (IMNA) - These figures reveal that Iran supplied oil to its customers at prices higher than the average OPEC and Brent prices. In August, Iranian crude oil prices rose to $87.58 per barrel, compared to $81.48 in July. The average OPEC price for August was $87.33 per barrel, while Saudi Arabia's light crude was priced at $89.55 per barrel. This data aligns with previous reports indicating that Iran managed to supply record volumes of crude oil to Asian customers in August, despite US sanctions, and earn more from these shipments.

Experts suggest that Iran has been offering discounts on its oil prices to incentivize more purchases by Asian customers. Interestingly, the OPEC data also highlights that Iranian oil shipments in August were traded at prices even higher than the benchmark Brent price in the international markets.

The Brent price increased by $6.05 in August compared to July, reaching $86.14 per barrel. International tanker tracking services indicate that Iran's oil exports, including condensates, averaged nearly 2 million barrels per day in August, out of a total output of 3.15 million barrels per day. Additionally, separate data from OPEC, cited in another report by Fars, reveals that Iran's total oil output in August reached 3 million barrels per day, an increase of 0.143 million barrels per day from July.

Iran's oil prices increased by $6 per barrel in August

News ID 687224


Your Comment

You are replying to: .