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Iran sets new record in crude export; Islamic Republic announces official oil price
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Iran sets new record in crude export; Islamic Republic announces official oil price
Pars Today- International websites of tankers tracking informed of breaking record in Iran's oil exports to China.
The US President, Donald Trump, recently sanctioned a number of Iranian tankers which are shipping Iran's oil to China, but in no avail. According to Pars Today, S&P institute reported on Saturday that Iran's oil exports to China reached 1.910 million barrels per day.
Now, Kepler revealed that the banned tankers continue downloading oil and at least 1.8 million tons of the imports in March have arrived in China via 10 tankers some of which used to carry Russian crude.
Iran announces official crude price in April
The National Iranian Oil Company announced the price of crude in the fourth month of 2025. Accordingly, "Iranian Light Crude Oil" is supplied $1.75 higher than North Sea Brent Crude in April in the West European and South African markets. Moreover, "Iranian Heavy Crude oil" has been priced 5 cents lower than this index in these markets in the same month. "Iranian Foroozan Crude Oil" has also been supplied in these markets 5 cents lower than NSBC. Regarding that the base price of crude in West Asia is the average price of Oman / Dubai Crude Oil, the price of "Iranian Light Crude Oil" for supply in the Asian market in April will be $3.95 higher than the base price (Oman / Dubai crude).
Need for commitment to OPEC+ production level
Iran's Oil Minister, Mohsen Paknezhad, said during the 59th videoconference meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ on Saturday, "Today the world is facing with numerous ambiguities including the impact of trade tariffs imposition on the global trade, change of supply chain and geopolitical tensions. Yet, there are grounds for optimism. Paknezhad made it clear, "Effective monitoring on the implementation of the OPEC+ decisions and commitment to the agreed level of production is very vital in these sensitive conditions for oil producers and consumers and the global economy in general."
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