Iran’s Oil Production Rises Despite U.S. Threats

Date: 15 April 2025 - 22:24

News ID: ۱۳۸۵۴۳

TEHRAN -- Iran’s oil production rose slightly in March, according to figures released by the Organization of the Petroleum Exporting Countries (OPEC).
OPEC figures cited by ISNA news agency Tuesday showed that Iran produced 3.335 million barrels per day (bpd) of oil in March, up 12,000 bpd from figures reported in February.
That came as total OPEC output in March had declined by 78,000 bpd to 26.776 million bpd.
However, production by members of a Russia-led bloc of oil-producing nations, which together with OPEC form the OPEC+ grouping, increased slightly by 41,000 bpd in March, as the 10-member group produced 14.244 million bpd of oil over the period.
Iran, along with Libya and Venezuela, are exempt from a series of cuts agreed by OPEC members in recent years to stabilize global oil prices.
The country has steadily increased its oil production in recent years despite a continued regime of U.S. sanctions that restricts its ability to export crude oil.
Iran returned to its position as the third largest producer in OPEC in August last year after reports showed it had ramped up its exports to private refiners in China.
However, OPEC’s March figures showed that the price of Iran’s Heavy oil grade had dropped by 3.4% in March compared to August to trade at $74.76 per barrel, just above OPEC’s March basket price and down from a 2024 average of $81.77 a barrel.