State-owned National Iranian Oil Company, or NIOC, has cut the October official selling price differentials for all its Asia-bound crude grades by 90 cents/b-$1.20/b from September, according to a notice seen by S&P Global Platts Sept. 13.
NIOC cut the October Iranian Light OSP differentials by $1.20/b from September to a premium of $1.45/b, while the OSP differential for its Iranian Heavy and Forozan crude was cut by 90 cents/b and 95 cents/b, respectively, to a premium of 65 cents/b each, to the average of Oman/Dubai assessments in October.
The October OSP differential for Soroosh crude was slashed by 95 cents/b.
Iran’s Asia OSPs ($/b):
Iran’s Med OSPs ($/b): Basis
Iran’s NWE OSPs ($/b): Basis
Source: Platts