According to the announcement, Iran’s light crude oil will be priced $1.35 higher than the benchmark price (Oman/Dubai crude) for the Asian market.

The NIOC’s International Affairs Directorate disclosed the prices for various types of Iranian crude oil for the first month of 2025. Iran’s light crude oil will be sold in Northwest Europe and South Africa at $2.70 below the North Sea Brent crude price. Meanwhile, Iran’s heavy crude oil will be priced $4.50 below Brent, and Forozan crude oil will be offered at $4.70 below Brent in these markets.

In the Mediterranean market, Iran’s light, heavy, and Forozan crude oils will be priced $2.60, $4.70, and $4.60 below the North Sea Brent crude price, respectively.

The Oman/Dubai crude average serves as the benchmark price for crude oil in West Asia. Accordingly, Iran’s light crude oil for the Asian market in January 2025 will be priced $1.35 above the benchmark, while Iran’s heavy and Forozan crude oils will be priced 80 cents and 55 cents below the benchmark, respectively.

The NIOC’s International Affairs Directorate publishes the selling prices for Iranian crude oil on a monthly basis.