India has once again pressed the Trump administration to open access to Iranian or Venezuelan oil, warning that reducing its dependence on Russian crude will only be possible if Washington relaxes restrictions.
Iran’s crude oil and condensate exports hit a new record high over the past 12 months despite the imposition of 14 new US sanction packages totaling 465 measures, including the largest oil sanctions since 2018.
Oil prices declined sharply on Thursday as prospects for a renewed US-Iran nuclear agreement and an unexpected rise in US crude stockpiles raised fears of oversupply.
National Iranian Oil Company (NIOC) has set official selling prices (OSP) for Iranian crude oil in March, so that Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.
Iran’s Minister of Industry, Mine and Trade Mohammad Atabak has said that 50 million tons of crude steel will be produced in the country by the end of the next Iranian calendar year (to start March 21, 2025).
Iran's oil shipments to China have surged this month as traders navigated logistical hurdles caused by stricter US restrictions, allowing delayed cargoes to reach the world's top crude importer.
The National Iranian Oil Company (NIOC) released the official selling prices for Iranian crude oil in January 2025.
Mohammad Rezvanifar, the head of Iran's customs administration (IRICA), announced that Iran's foreign trade has reached nearly $100 billion in the first seven months of the Iranian calendar year (March 20 – October 21, 2024).
Figures by Iran’s Ports and Maritime Organization (PMO) show that loading of crude oil and petroleum products in the Iranian ports reached just more than 46.075 million metric tons (mt) in the seven months to October 21.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.277 million barrels per day (bpd) of crude oil in August, registering a 4,000-bpd increase compared to the previous month.
