Iran's Oil Output Rose 26,000 Barrels a Day in July to 2.478 Million Barrels

According to Bourse News, OPEC's latest monthly report, published Wednesday, August 12, 2026 (21 Mordad 1405) and based on secondary source data, showed Iran's oil production rose 26,000 barrels per day in July from June to reach 2.478 million barrels a day. The same report put combined output from OPEC's 11 members up 1.659 million barrels a day in July to 23.632 million barrels a day, while OPEC+ partner countries' output fell 235,000 barrels a day to 14.024 million barrels a day.

OPEC also said Iran Heavy crude averaged $82.07 a barrel in July, down $8.70 from June; its average from the start of 2026 through July stood at $92.37, above the $70.73 average over the same period in 2025. OPEC's Reference Basket fell $6.76 from June to average $82.99 a barrel in July.