Iranian oil production… Bloomberg – Commodity Research Group

May 4, 2021 by Jim Colburn Leave a Comment

Grant Smith and Julian Lee, report on OPEC’s steady oil production in April, here… But this is what they had to say about Iran:

“The disruption in Libya was in any case largely compensated by a further increase in Iran’s output. The country added 60,000 barrels a day to reach 2.41 million a day, the highest level in two years.

The Islamic Republic has bolstered output by roughly 20% since the end of last year as buyers in China gain confidence and while it resumes diplomatic relations with U.S. President Joe Biden after the acute crackdown pursued by his predecessor.

Iran and the U.S. are making progress with negotiations to revive a nuclear accord which, if successful, could remove American sanctions on Tehran’s oil sales and boost output by a further 1.5 million barrels a day.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

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