Iran increases official crude price for Asia
National Iranian Oil Company (NIOC) has increased the official price for different kinds of crude to export to Asian states.
According to the report, the NIOC has priced light crude, heavy crude, and Forouzan for April respectively $9.20, $7.95, and $8.05 more than the average in Oman or Dubai.
The price for a barrel of Iranian light crude oil, heavy crude oil, and Forouzan crude oil for sale in May is $9.20, $7.95, $8.5 more than that of April.
The average price of Oman/Dubai crude oil is considered the base price for crude oil in West Asia.
Iran has priced light crude oil in the northwestern European market higher than that of Brent and heavy and Forouzan crude oil lower than that of Brent.
Aramco had previously announced an official increase in the price of its light crude oil for Asian customers in May.