Iran’s heavy oil price to drop by $10 in 2025

According to Energy Press, according to data provided in the OPEC monthly report (November), the average price of Iranian heavy oil in 2025 has decreased by more than $10 compared to 2024. According to this report, the average price of Iranian heavy oil in 2024 was about $81, which decreased by about 13% in the first 10 months of 2025 to $70.7.
The average price per barrel of Iranian heavy oil in 2023 and 2022 was also recorded at $83.4 and $101.7, respectively. Although the oil market has been affected by numerous events and severe fluctuations during this period, an examination of the average price trend shows that Iranian heavy oil has lost about 30% of its value over the past three years.
Of course, this trend is not limited to Iran. The price of the OPEC basket of oil (ORB) has also fallen by more than 30% over the past three years, from $102 per barrel in 2022 to $70.8 in the first 10 months of 2025. North Sea Brent crude has also performed less well, falling from around $103 in 2022 to $70.1 in the first 10 months of 2025.