BAKU, Azerbaijan, April 12. The National Iranian Oil Company (NIOC) has raised the price of light crude oil by $9.2 per barrel, while heavy crude oil by $7.95 per barrel for customers in Asia for May compared to April, 2022, Trend reports citing the NIOC’s website.
The price of Iran’s light crude oil in the Omani and Dubai oil markets in May is also expected to be $9.2 higher, while the heavy crude oil – $7.95 more than the previous price.
Also, the price of Iran’s light crude oil in the north-western European oil markets (Ice Bwave) in May is expected to be $2.9 higher, while the heavy crude oil – $0.75 less than the previous price.
In addition, the price of Iran’s light crude oil in the Mediterranean Sea oil markets in May is expected to be $3.15 higher, while the heavy crude oil – $0.5 less than the previous price.
According to the NIOC, the price of Iran’s light crude oil in the South Africa oil markets in May is expected to be $2.9 higher, while the heavy crude oil – $0.75 less.
Reportedly, the price of a barrel of OPEC member countries crude oil is around $100. Iran is also a member of this organization.
According to the latest report OPEC, Iran's daily crude oil extraction in February increased by 44,000 barrels and amounted to 2,546,000 barrels.
---
Follow the author on Twitter: @BaghishovElnur