Iran's National Oil Company Raises Crude Selling Prices For Asia In May - State Media

National Iranian Oil Company (NIOC) has increased its official prices for light, heavy and Forouzan crude oil for Asian buyers in May, Iranian official media reported

TEHRAN (UrduPoint News / Sputnik - 13th April, 2022) National Iranian Oil Company (NIOC) has increased its official prices for light, heavy and Forouzan crude oil for Asian buyers in May, Iranian official media reported.

Selling prices for the various grades of fuel have been increased to $9.20, $7.95, $8.

5 per barrel, respectively, which is more than the average price of Oman or Dubai crude oil, according to the NIOC report.

Compared to the northwestern European market, the prices for Iranian oil are also higher than that of Brent, IRNA news agency said.

Iranian media also noted that Saudi Arabia's state-owned oil company Aramco also previously announced an official increase in the price of its light crude oil for Asian customers in May.