Iran accounted for 12% of OPEC output in September

11/01/11

Iran produced 3.597 million barrels of crude oil per day in September, accounting for 12 percent of the output of the Organization of Petroleum Exporting Countries and making it the second leading producer of OPEC. OPEC's output totaled 29.896 million barrels per day in September.

National Iranian Oil Company (NIOC)

Saudi Arabia produced 9.586 million barrels of oil per day in September, making it OPEC's leading producer, accounting for 31 percent of total OPEC output.

Kuwait was OPEC's third leading producer in September, followed in order by the United Arab Emirates, Venezuela, Nigeria, Angola, Algeria, Qatar, Ecuador, and Libya.

Previously, Platts magazine had reported that oil production by OPEC members fell by 130,000 barrels per day to about 30 million barrels per day in September.

The output declines from Saudi Arabia and Nigeria, along with smaller dips from the United Arab Emirates, Kuwait, and Iran, more than offset increases totaling 150,000 barrels per day from Angola, Libya, and Iraq, according to a Platts survey.

"The main factor to watch in the next few months is just how much Libyan crude comes back on the market, and whether other producers need to make way for it," said John Kingston, Platts global director of news, in a press release.