Iran boosts OPEC oil output in April – report

gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf July 25, 2005. (Reuters)

SULAIMANI (ESTA) — OPEC oil production has risen in April as higher supply from Iran countered involuntary cuts and agreed reductions by other members under a pact with allies, Reuters reported on Friday.

The 13-member OPEC pumped 25.17 million barrels per day (bpd) in April, up 100,000 bpd from March, Reuters said.

Iran has managed to raise exports since the fourth quarter despite U.S. sanctions, according to various assessments of the shipments.

A Reuters survey puts Iranian supply in April at 2.5 million bpd, up 200,000 bpd from March and the biggest rise in OPEC.

Iran’s exports are rising as talks take place to revive a 2015 nuclear deal which could eventually allow more oil to the market, the news agency said.

“The elevated levels that we are seeing from Iran are generally continuing,” Reuters quoted Daniel Gerber, chief executive of Petro-Logistics, as saying.

OPEC, Russia and allies, a group known as OPEC+, confirmed last week a plan to ease from May more of the record cuts made in 2020.

Iran, plus fellow OPEC members Libya and Venezuela, are exempt from making cuts, so changes in their production do not affect the compliance rate.

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