Iranian heavy crude oil price rises 8.7% in May: OPEC

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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

 

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