TEHRAN - National Iranian Oil Company (NIOC) has decreased its crude oil selling prices (OSP) for Asian buyers in January 2023, following Saudi Arabia’s significant price cut for the mentioned month, Reuters reported on Tuesday, citing industry sources with direct knowledge of the matter.

As reported, NIOC has set the OSP of its light crude oil grade for Asian buyers at $3.15 a barrel above the Oman/Dubai average for January 2023, down $2.20 from the previous month.

The company has also set the January 2023 OSP of Iranian heavy grade for Asia at $0.75 a barrel above the Oman/Dubai average, down $1.1 from the previous month, according to the mentioned sources.

EF/MA