According to a report by the US Energy Information Agency (EIA), Iran’s oil output, including gas condensate, stood at 4.170mb/d in September, about 870,000b/d more than September 2015, PressTV reported. It added that Iran’s oil production in September was the highest since late 1980s.
Moreover, Iran’s 9-month trade balance for 2016 was positive with the value of exports exceeding that of imports by $55m. Gas condensate was the top commodity in the country’s non-oil export list with an export value of $5.124b, accounting for 16.22% of the total 9-month non-oil exports value, informed Tehran Times.
Liquefied natural gas (LNG) with a value of $1.952b and a 6.18% share came in second, followed by low-density oils with 3.89% share worth $1.230b, associated petroleum gas (APG) and hydrocarbon gas liquids valued at $1.67b and a share of 3.28%, and finally liquefied propane with $868m worth and a 2.75% share.
This came as the Organization of the Petroleum Exporting Countries (OPEC) said Iran’s oil production reached a new record high of 3.665mb/d in September. Additionally, Iran announced that it produced over 560,000b/d of gas condensate in September.