According to KhabarOnline, According to the IEA’s latest report, Iran produced an average of 3.17 million barrels of oil per day in August, marking a significant decline of 160,000 barrels per day compared with July. The agency estimates that Iran’s production in July stood at approximately 3.33 million barrels per day.
The IEA also noted that Iran has lost its position as OPEC’s third-largest oil producer since May, with the United Arab Emirates overtaking the country. This shift reflects changing production dynamics within the cartel and could influence internal market balances.
In contrast, OPEC’s own data presents a different picture. The organization reports that Iran remained the third-largest oil producer within OPEC until last month and only slipped to fourth place in August, with output estimated at 3.218 million barrels per day. This figure is around 48,000 barrels per day higher than the IEA’s assessment.
The discrepancy between the two sets of figures underscores the challenges of accurately measuring Iran’s oil production, particularly amid sanctions and limited transparency. These uncertainties remain a key factor for global oil markets and energy policymakers monitoring supply trends.