{"id":1709,"date":"2017-11-13T12:46:12","date_gmt":"2017-11-13T13:46:12","guid":{"rendered":"http:\/\/madaresharghi.com\/opec-reaffirms-irans-pledge-to-supply-cuts\/"},"modified":"2017-11-13T12:46:12","modified_gmt":"2017-11-13T13:46:12","slug":"opec-reaffirms-irans-pledge-to-supply-cuts","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/","title":{"rendered":"OPEC Reaffirms Iran's Pledge to Supply Cuts"},"content":{"rendered":"

madaresharghi<\/a>
\n<\/p>\n

\tIran continues to adhere to a global agreement to scale back crude oil production as OPEC data on Monday showed further cuts in the country’s monthly oil output.<\/p>\n

\tThe No. 3 OPEC producer pumped an average of 3.823 million barrels per day in October, down 11,300 bpd from the previous month, OPEC said in its latest monthly report, citing secondary sources.<\/p>\n

\tIran’s own data submitted to OPEC pointed to bigger cuts. The country said it pumped 3.81 million barrels of crude per day last month compared to 3.84 million bpd in September.<\/p>\n

\tOPEC uses two sets of figures to monitor its output – figures provided by each country, and secondary sources which include industry media.<\/p>\n

\tOutput cuts by Iran and other producers contributed to a decrease of 151,000 bpd in OPEC’s total production in October that slid to 32.59 million barrels a day from 32.74 million bpd in September.<\/p>\n

\tAccording to secondary sources, Angola, Libya and Saudi Arabia rose production while supplies showed declines mainly in Iraq as well as in Nigeria, Venezuela, Algeria and Iran.<\/p>\n

\tThe report comes ahead of a meeting of OPEC and outside producers in Vienna later this month to discuss extending production cuts from March 2018 through the end of next year.<\/p>\n

\tUnder the current supply cut accord, OPEC and 11 other nations have agreed to reduce supplies by 1.8 million barrels per day in an effort to lift prices and re-balance the market.<\/p>\n

\tSpeculations on extending the cuts have pushed prices to their highest levels in more than two years above the $60-per-barrel mark.<\/p>\n

\tOPEC also forecast the production of natural gas liquids by its members to remain unchanged in 2017 from the previous assessment, averaging 6.31 million bpd.<\/p>\n

\tHowever, the group anticipated a growth of 180,000 bpd in NGL output next year, with new supplies mainly expected from Iran and Saudi Arabia.<\/p>\n

\tAccording to the monthly report, Iran Heavy, the country’s main oil grade for export, traded up 3.9% from the previous month to $50.08 per barrel. Compared to the previous year, the value of OPEC basket of 14 crudes rose 28%, or $11.23 higher, at $50.68 per barrel.<\/p>\n

\tIran’s Oil Ministry said on Sunday the country’s heavy light oil gained $2.59 to $60.04 per barrel in the week to Nov. 3 while Iran Heavy settled up $2.52, or about 4.5%, to $57.47. Both crudes rose around 4.5% in the week.<\/p>\n","protected":false},"excerpt":{"rendered":"

madaresharghi Iran continues to adhere to a global agreement to scale back crude oil production as OPEC data on Monday showed further cuts in the country’s monthly oil output. The No. 3 OPEC producer pumped an average of 3.823 million barrels per day in October, down 11,300 bpd from the previous month, OPEC said in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"\nOPEC Reaffirms Iran's Pledge to Supply Cuts - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC Reaffirms Iran's Pledge to Supply Cuts - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Iran continues to adhere to a global agreement to scale back crude oil production as OPEC data on Monday showed further cuts in the country’s monthly oil output. The No. 3 OPEC producer pumped an average of 3.823 million barrels per day in October, down 11,300 bpd from the previous month, OPEC said in […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-13T13:46:12+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/\",\"name\":\"OPEC Reaffirms Iran's Pledge to Supply Cuts - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-11-13T13:46:12+00:00\",\"dateModified\":\"2017-11-13T13:46:12+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/opec-reaffirms-irans-pledge-to-supply-cuts\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1709"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=1709"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1709\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=1709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=1709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=1709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}