Iran Defies Sanctions: Oil Exports Surge Amidst Global Pressure

NIOC Unveils March Crude Oil OSP for Iranian Oil: Key Insights and Highlights

In March 2025, the International Affairs Directorate has announced the updated prices for various types of Iranian crude oil, marking an essential update for global oil markets. Understanding these prices is crucial for stakeholders involved in trading and investment.

The pricing of Iranian crude oil varies based on the type and the market region. Here’s a detailed breakdown:

  • Iran’s Light Crude Oil: Offered at $1.85 above the ICE Brent benchmark for the Northwest Europe and South African markets.
  • Iran’s Heavy Crude Oil: Priced at $0.05 above the ICE Brent benchmark.
  • Iran’s Forozan Crude Oil: Offered at $0.15 above the ICE Brent benchmark.

In the Mediterranean market, the pricing details are slightly different:

  • Iran’s Light Crude Oil: Priced at $1.95 above the ICE Brent benchmark.
  • Heavy Crude Oil: Priced at $0.15 below the ICE Brent benchmark.
  • Forozan Crude Oil: Priced at $0.05 below the ICE Brent benchmark.

Notably, the ICE Brent benchmark plays a significant role in the pricing of Iranian crude oil in Northwest European markets. This benchmark is calculated based on the weighted average price of Brent crude traded on the London-based ICE exchange on days when over 1,000 lots (equivalent to 1 million barrels of oil) are transacted.

This change in pricing methodology is not a new phenomenon. Such adjustments have been made in the past due to various factors, including regulatory changes and customer preferences. Stakeholders should remain aware of these dynamics as they can significantly impact market behavior.

As the global oil market continues to evolve, the pricing of Iranian crude oil remains a critical factor for traders and investors alike. The fluctuations in benchmark prices can lead to substantial changes in profitability and market strategies.

In summary, the pricing structure for Iranian crude oil in March 2025 is as follows:

  1. Northwest Europe and South Africa:
    • Light Crude Oil: $1.85 above ICE Brent
    • Heavy Crude Oil: $0.05 above ICE Brent
    • Forozan Crude Oil: $0.15 above ICE Brent
  2. Mediterranean Market:
    • Light Crude Oil: $1.95 above ICE Brent
    • Heavy Crude Oil: $0.15 below ICE Brent
    • Forozan Crude Oil: $0.05 below ICE Brent

In conclusion, the announced prices for Iranian crude oil reflect market trends and adjustments that are critical for industry participants. Staying informed about these developments is essential for making strategic decisions in the oil market.

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