The National Iranian Oil Company (NIOC) has raised its crude oil prices for deliveries to Asian and European customers in September.

NIOC�s international affairs department published a table on Sunday that showed the state-run company had increased its official selling price (OSP) for various Iranian crude oil grades.

The table showed that NIOC�s Light grade will be available to Asian buyers in September at $9.50 above the Oman/Dubai average. The price will be $0.60 higher than prices declared for August deliveries.

The OSPs for Iranian Heavy and Forozan crude oil grades for September deliveries to Asian customers will be respectively $6.30 and $6.40 above the Oman/Dubai average, showed the table. The prices will be up $0.70 and $0.75, respectively, compared with August prices.

The Oman/Dubai average is the basic price for oil trading in the Western Asia region.

The NIOC table showed that Iran�s Soroush oil grade will be offered to Asian customers at an OSP of $4.05 below Iran�s Heavy grade price for September.

The company said Iranian Light grade will be sold to customers in northwest Europe in September at $2.65 above the ICE Brent price. It added that September�s OSP for Heavy and Forouzan grades will be $0.9 and $1 below the benchmark ICE Brent price.

Iran has seen a major increase in its crude oil exports over the past year despite a strict regime of American sanctions that has been in place since 2018 with the aim of choking off the country�s oil revenues.

Reports suggest a bulk of Iranian oil shipments in recent months have been delivered to private refiners in China.

 

 

By� PRESS TV�