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Under this definition (crude and condensate), total world oil production in 2023 averaged 81,804,000 barrels per day. Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members.
Iran's total oil production reached a peak level of 6.6 Mbbl/d (1,050,000 m 3 /d) in 1976. By 1978, Iran had become the second-largest OPEC producer and exporter of crude oil and the fourth-largest producer in the world. After a lengthy decline in the 1980s, production of crude oil began to increase steadily in 1987.
Some 23 hydrocarbon fields lie in border areas and are shared between Iran and adjacent countries, including Kuwait, Iraq, Qatar, Bahrain, UAE, Saudi Arabia and Turkmenistan. [3] Iranian production peaked at 6 million barrels per day (950 × 10 ^ 3 m 3 /d) in 1974, [4] but it has been unable to produce at that rate since the 1979 Iranian ...
SVB International, a consultant, estimates Iran's oil production increased in August to 3.15 million barrels per day (bpd), the highest since 2018, with crude oil and condensate exports at just ...
Iran's oil production is crucial; a strike on facilities would have likely sent global prices soaring. Oil prices plunged on Monday, dropping more than 6% in the steepest intra-day decline since ...
Iran, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), is responsible for more than 3 million barrels of crude oil production per day.
Oil industry output averaged 4 million barrels (640,000 m 3) per day in 2005, compared with the peak output of 6 million barrels per day (950,000 m 3 /d) reached in 1974. Following the 1979 revolution , however, the government reduced daily oil production in accordance with an oil conservation policy.
Between 2007 and 2012, oil refining capacity for crude oil and gas condensate would increase from 1,600,000 barrels per day (250,000 m 3 /d) to 3,300,000 barrels per day (520,000 m 3 /d). [2] By 2009, Iran had a total refining capacity of 1,860,000 barrels per day (296,000 m 3 /d).