Iran’s light crude price exceeds $53 pb

EghtesadOnline: The price of Iranian light crude oil surpassed $53 per barrel in the week ending in February 24, according to a report released by Petroleum Ministry.

News ID: ۷۴۰۲۰۰

06 March 2017

Iran’s light crude oil price rose by $1.24 in the mentioned period registering a record rise among other producing countries, IRNA reported.

The oil price rise over the past weeks is mainly due to the commitment of OPEC and non-OPEC producers to a decision to reduce oil production.

Also, the Iranian heavy crude rose by 42 cents reaching $53.47 per barrel.

In their 171th general meeting in Vienna on November 30, the OPEC member-states approved oil freeze.