Crude oil is a natural product that contains hydrocarbon reserves and other organic materials. A kind of fossil fuel, crude oil can be used to produce useful products such as gasoline, diesel, etc in various types of petrochemicals.

According to the NIOC, light crude oil supply notification of National Iranian Oil Company in International Ring has published in Iran Energy Exchange (IRENEX). National Iranian Oil Company intends to by the end of October this year, propose to supply one million barrels of crude oil at the International ring of IRENEX.