State-owned National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts Wednesday.
For April, NIOC has raised the OSP differential for its Iran Light crude destined to Asia by 35 cents per barrel to a premium of 75 cents/b over the average of Platts Oman and Dubai crude assessments for the month.
NIOC has raised OSP differentials for Iran Heavy and Forozan crudes loading from Kharg Island in April by 30 cents/b each.
The Iran Heavy OSP is now at a 45 cents/b discount to the average of Platts Oman and Dubai assessments in April, while the OSP for Forozan is now at a discount of 30 cents/b.
NIOC also upped the OSP differential for its Soroosh crude heading to Asia in April, by 10 cents/b from March, the source said.
The Soroosh OSP is now at a discount of $7.45/b over Oman/Dubai.
A spokesman of the Afghan ministry of oil and gas rejected media reports claiming that the country has stopped crude imports from Iran.
Turkey has closed its ports to Iranian oil, fully complying with US sanctions against its main supplier, despite Ankara publicly criticizing the United States’ move to end import waivers and warning of a struggle to tap alternative producers.
The United States is increasing its oil imports from Russia, according to a Bloomberg source, as US refineries clamor for more oil now that refineries oil supplies have dried up.
Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.
Oil-to-metals conglomerate Vedanta Ltd said on Tuesday it had been declared the preferred bidder for two copper blocks in the India's western state of Maharashtra.
Amonth before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in line with its share of the cuts, producing below its OPEC+ quota for the month of May.