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NIOC Raises Oil Prices for June Loading

NIOC Raises Oil Prices for June LoadingNIOC Raises Oil Prices for June Loading

State-owned National Iranian Oil Company raised the official selling prices for all its crude oil grades loading in June from Kharg Island and bound for Asia, a company source said Wednesday. The June official selling prices for Iranian Light crude was raised by 70 cents per barrel to a premium of $2 per barrel to the average of Platts Oman/Dubai crude assessments in June, Platts reported. Iranian Heavy and Forozan OSPs were raised by 85 cents per barrel to a discount of 65 cents/b and 36 cents/b, respectively, for June.  NIOC also raised the June OSP for Asia-bound Soroosh by 55 cents/b to a discount of $5.30/b against Oman/Dubai in June.  Iran’s crude exporters had a banner April, with shipments soaring to a record right before the possible reimposition of US sanctions on their oil sales. Crude exports by OPEC’s third-biggest producer totaled 2.61 million barrels a day, according to the Iranian Oil Ministry’s Shana news service.

 

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