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Iran sells crude oil at $51.44 per barrel in a week


Iran sells crude oil at $51.44 per barrel in a week

Iran sold its light crude oil at $51.44 per barrel in the week ended on February 10, with $1.57 decrease from its previous week, IRNA reported.



The country’s light crude price stood at $52.29 on average since the beginning of 2017 until February 10.
Meanwhile, Iran sold its heavy crude oil at $52.76 per barrel in the mentioned week, up six cents from its preceding week.
The country’s heavy oil price was reported $52.19 on average since the beginning of 2017 until February 10.
Meanwhile, with 25 cents drop from its preceding week, Organization of Petroleum Exporting Countries (OPEC)’s basket price stood at $52.93 per barrel in the mentioned week.
Oil production in Iran will reach four million barrels per day (bpd) by the beginning of the next Iranian calendar year (March 21) National Iranian Oil Company Managing Director Ali Kardor said on Saturday.
The official also announced that the country’s Sixth National Development Plan (2016-2021) has envisaged daily oil production of 4.7 million barrels.
According to a survey by Reuters published on January 31, Iran has increased its oil output by 20,000 bpd in January after the country was exempted from the OPEC cuts.
Iran's crude oil output was 3.9 million bpd in January, according to Iranian Oil Minister Bijan Namdar Zanganeh.