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Iranian oil price set a new record and exceeded $60 p b with a $2.15 rise.
The growing price of oil in the past few weeks caused Iran`s oil to reach the $60 again after two years. In late 2014. Iran`s oil price started to decease and reached $45 p b. Once again in 2015. it went up and touched $60 but dipped soon after and even experienced $23 p b.
Last year after talks between OPEC and non-OPEC countries to manage oil market. the decreasing process ceased and the oil price was stabilized and then experienced an upward move. The recent increase in the oil price is due to the crises in the Middle East and Nigeria and also the reduction of US` oil reserves.
Iran`s oil production is about 3.9 million barrels a day. including the 2.2 million barrels exported.
