The National Iranian Oil Company (NIOC) has planned to offer a million barrels of crude oil on the Iran Energy Exchange (IRENEX) on February 4.

This will be the 4th time crude oil is being sold on the Iranian market for the private sector to buy it from the state-run NIOC.

On October 28, the first round of selling a million barrels of crude oil on IRENEX began by NIOC and 280,000 barrels, divided in 35,000-barrel consignments, were sold at $74.85/b.

On November 20, the company offered 700,000 barrels on the market which were sold at $64.97/b.

The third round of the sales took place on January 21 but no cargoes were purchased at the end of the session.