Iran puts 2 million barrels of light oil up for sale

The National Iranian Oil Company (NIOC) will put 2 million barrels of light oil up for sale in the Iranian Energy Exchange (IRENEX) in the evening Tuesday.

Report informs citing Tehran Times that the base price is $67.32 a barrel.

NIOC sold 1.085 million barrels of light and heavy oil, as well as condensate during past 7 months.

After US promised in 2018 to quit nuclear deal with Iran and reduce Iranian oil export to zero, Iran takes different steps against US actions and increases oil export. One of the main strategies of Iran to realize oil sale is to find new ways for diversification of oil export.

NIOC had offered light oil to IRENEX for the first time on October 24. At the first stage, it had managed to sell 280,000 barrels of crude oil at $74.85 a barrel.