TEHRAN-- National Iranian Oil Company (NIOC) has raised its main crude oil asking price (OSP) for Asian buyers in March, Reuters reported on Wednesday, pricing estimate an industry source.As reported, the National Iranian Oil Company has set the cost of its light crude oil for sale in March at two dollars a barrel above the Oman/ Dubai average prices.Based on the Reuters data, the OSP for Iranian light crude in March is set 20 cents above the costs for the previous month.According to OPECs newest monthly report released on February 14, Iranian heavy oil price likewise increased by $2.45 in January to register a 3.1-percent boost compared to December 2022.

The Iranian heavy petroleum price reached $81.56 per barrel in the first month of 2022, compared to Decembers $79.11 per barrel.According to the report, the countrys average heavy unrefined cost was $85.59 in 2022.

The typical rate of Iranian oil in the first month of 2023 registered a decrease of $4.03 compared to the very same month in 2022.

The price of Iranian heavy crude in the very first month of 2022 was $85.59 per barrel, on average.Iran has actually been ramping up its oil production and exports over the previous year as the country has actually been executing brand-new methods to get rid of U.S.

sanctions.Earlier this month, Iranian Oil Minister Javad Oji stated the countrys income from the sales of oil, gas, gas condensate, and petroleum products in the very first 10 months of the current Iranian year (March 21, 2022-January 20, 2023) increased by 40 percent compared to the very same period last year.Addressing an open session of the parliament on February 1, Oji said that 70 million barrels of gas condensate were exported in the discussed time span.According to the authorities, the objectives set in the existing years national spending plan bill for the exports of oil and gas will certainly be attained by the yearend.He noted that the National Iranian Oil Company (NIOC) has actually currently sold adequate oil and gas and petroleum items to understand the budget plan objectives by 100 percent, nevertheless, collecting the profits needs more time.In remarks in November 2022, Iranian President Ebrahim Raisi highlighted the failure of the enemys policy of maximum pressure, saying the nations oil export has actually reached the pre-sanction levels.Back in January, the U.S.

Energy Information Administration (EIA) in a report put Irans typical oil production in 2022 at 2.54 million bpd, 140,000 bpd more than the previous year.Irans oil production in 2021 was about 2.4 million bpd.EF/ MA