Iranian heavy oil price increased $9.2 in May to register an 8.7-percent rise compared to the previous month, according to OPEC’s latest monthly report published.
Iranian heavy crude oil price followed its upward trend for the seventh consecutive month to reach $115.48 per barrel in the mentioned month, compared to April’s $106.28 per barrel.
According to the report, the country’s average heavy crude price was $102.92 from the beginning of 2022 up to the report’s publishing day, in comparison to $61.94 in the previous year’s same period.
The report put crude output for May at 2.544 million barrels per day indicating a 20,000-bpd decrease compared to the figure for the previous month.—Tehran Times
