BAKU, Azerbaijan, March 3. National Iranian Oil
Company (NIOC) has announced the crude oil prices for March 2025,
Trend reports via
NIOC.
The price for one barrel of light crude oil in the North-West
Europe market for March is set at $73.6, while the price for heavy
crude oil is $71.8.
The announcement further indicates that in the Mediterranean
market, the price for one barrel of light crude oil will be $73.7,
and for heavy crude oil, it will be $71.6.
In the South African market, the price for one barrel of light
crude oil is set at $73.6, with the price for heavy crude oil at
$71.8.
The price for one barrel of light crude oil in the Asian market
is expected to be $79.8, while heavy crude oil will be priced at
$77.6.
The cost of 1 barrel of crude oil of OPEC (Organization of the
Petroleum Exporting Countries) member countries is about $80. Iran
is also one of the member countries of this organization.
In addition, according to OPEC’s report, Iran’s crude oil
production in January 2025 decreased by 14,000 barrels per day
compared to December 2024, totaling 3.28 million barrels per
day.
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