March 2016, Vol. 243, No. 3

Web Exclusive

Iran Slowly But Steadily Increasing Oil Market Share

Iran is expected to raise the April Official Selling Price (OSP) of its flagship light crude oil to Asia to 25 cents above the Saudi’s similarly graded Arab light. This is the highest premium since 2011 and is an increase of 30 cents over the previous month. Iran will likely price its light crude at 50 cents a barrel below the average of Oman and Dubai quotes, whereas the OSP for Iran Heavy will likely be $2.60 a barrel below Oman and Dubai quotes. But not all crudes are equal, and when it comes to Iran Heavy Grade, pricing will remain aggressively competitive. Heavy Grade is Iran’s main export grade, which must compete with Latin America, Iraq and Saudi Arabia—all of whom supply a similar

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