The report, published in September, showed output from the 12 member countries averaged 27.95 million barrels per day, up from the previous month.

Iran’s production fell by 27,000 barrels per day in August to 3.22 million. Iran’s average production was 3.26 million barrels per day in 2024 and 2.88 million in 2023.

Saudi Arabia, with daily output of 9.71 million barrels, and Iraq, at 4.02 million barrels, were the group’s largest producers in August.

The broader OPEC+ alliance, which includes Russia and other allies, produced 14.45 million barrels per day in August, a increase of 31,000 from July.

Combined, crude production from OPEC and its partners reached 42.4 million barrels per day in August, an increase of 509,000 barrels from the previous month.

According to the report, the price of Iran’s heavy crude oil fell by $1.63 in August to $69.18 per barrel. The average price for Iranian heavy crude was $82.86 in 2024.

The overall OPEC basket price also fell, dropping $1.24 to $69.73 per barrel.

The OPEC Secretariat’s report forecast that global oil demand will grow by 1.38 million barrels per day in 2025, with total world demand reaching 105.14 million barrels per day.