Tehran: The National Iranian Oil Company (NIOC) announced on Sunday the official selling prices (OSPs) for its crude oil in January 2025. Iranian Light crude oil for the Asian market will be priced at $1.35 per barrel above the Oman/Dubai average, which serves as the regional benchmark.

According to Islamic Republic News Agency, for Northwest Europe and South Africa, Iranian light crude and heavy crude will be sold respectively $2.70 and $4.50 per barrel below the global benchmark Brent in January. Similarly, Iran's Forouzan crude will also be priced at $4.70 below Brent for these markets.

In the Mediterranean market, Iranian Light, Heavy, and Forouzan crude grades will trade at $2.60, $4.70, and $4.60 per barrel below Brent, respectively.