TEHRAN – The Kepler Institute, an institute tracking oil shipments in the world, in its latest report on Wednesday said Iran’s oil exports to China have increased to 1.5 million barrels per day (bpd) in August 2023.
This report indicates that claims that Russia has taken Iran’s share of the oil market by giving discounts to China are incorrect.
Iran has increased its oil exports because the country has become stronger geopolitically, the report said, adding that most of its shipments go to China.
The institute put the average oil exported from Iran to China in the first seven months of the current year (January-July) at 917,000 bpd, indicating the highest figure in Kepler chart since 2013.
And also, the latest statistics of the International Energy Agency (IEA) indicate that Iran’s oil production has reached 3.04 million barrels per day (bpd).
In its monthly report of the global oil market, the agency put the oil produced by OPEC member states in July 2023 at 27.860 million bpd.
Iran produced 3.04 million barrels of oil per day in the seventh month of the current year, which shows no change compared to the daily output a month earlier.
A glance at reports from the International Energy Agency since the beginning of 2023 shows that Iran’s oil output has so far increased by 320,000 barrels, indicating a 12 percent hike.
Iran produced over 2.720 million barrels of oil per day in December 2022.
The agency put Iran’s oil production volume in 2018 when the U.S. exited the JCPOA unilaterally at 3.6 million.