Summary
Iran ratcheted up its offense in the oil market after breaking a pricing tradition, signaling it's seeking to win market share at a time when rival producers are trying to forge a deal on freezing output.
NIOC will also sell the Iranian Light grade to Asian customers at 60 cents below Middle East benchmark prices, a company official said Friday, asking not to be identified.
The Iranian Heavy grade will sell in May to Asia at a discount of $2.60 a barrel to the Oman-Dubai average while the Soroosh variety's price was set at $5.65 a barrel below Iranian Heavy, according to the official.
Iran, meanwhile, plans to boost production to 4 million barrels a day by the end March 2017, according to the nation's Shana news service, which cited Oil Minister Bijan Namdar Zanganeh.
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