The Organization of the Petroleum Exporting Countries (OPEC) reported that its 12 member nations produced a combined 27.235 million barrels per day (bpd) in June, up by 220,000 bpd from May.

Iran’s oil output fell by 62,000 bpd to 3.241 million bpd but remained OPEC’s third-largest producer after Saudi Arabia and Iraq. Iran’s average production in 2024 was 3.257 million bpd, up from 2.884 million bpd in 2023.

In June 2025, OPEC’s top producers were:

- Saudi Arabia: 9.356 million bpd 

- Iraq: 3.943 million bpd 

- Iran: 3.241 million bpd 

OPEC+ members produced 14.323 million bpd in June, a rise of 129,000 bpd from May’s 14.194 million bpd. Combined crude output from OPEC and its allies reached 41.559 million bpd in June, up 349,000 bpd from 41.210 million bpd in May.

Iran Heavy crude price averaged $69.13 per barrel in June, up from $63.25 in May. The 2024 average was $83.45. Meanwhile, OPEC’s basket price rose to $69.73 per barrel in June, a $6.11 (9.6%) increase from May 2025.

OPEC’s latest report forecasts global crude demand to grow by 1.28 million bpd in 2025, reaching 105.13 million bpd.