NIOC: Crude Price Up for Asian Market

Date: 14 November 2022 - 21:42

News ID: ۱۰۸۹۸۷

TEHRAN – The National Iranian Oil Company (NIOC) has raised the official crude oil selling price for Asian customers in December.
The international affairs department of NIOC increased the price of light crude oil, heavy crude oil, and Forouzan crude for December by $5.35, $1.85, and $1.95 higher than the average Oman/Dubai oil prices.
The average price of Oman/Dubai crude oil is the benchmark in West Asia.
Iran has set the official selling price of light crude oil in the northwest European market 35 cents lower than Brent, and the price of heavy and Forouzan crude oil in this market is $4.4 and $4.3 lower than Brent, respectively.
Earlier on 8 November, Mohsen Khojastehmehr, the CEO of the National Iranian Oil Company (NIOC) announced the ongoing negotiations for the development of the Iranian oil market, and said that oil exports have improved in recent months, but we are negotiating with new and old customers to develop the market.”