According to PIN, the price of Iran"s export crude stood at 114.53 dollars a barrel on Monday, May 19, National Iranian Oil Company international affairs reported.
Iran"s daily oil price is always published with a 48-hour delay.
The price of OPEC basket of thirteen crudes also rose an all-time record high to 121.02 dollars a barrel on Friday, May 16, compared with $119.24 the day before, according to OPEC Secretariat calculations.
OPEC"s daily basket price is also always published with a 24-hour delay and serves as the reference price for the Organization of Petroleum Exporting Countries.
The new OPEC Reference Basket (ORB), implemented as of 10 September 2007, is currently made up of Saharan Blend (Algeria), Girassol (Angola), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).
OPEC accounts for about 40 percent of the world"s oil production and currently its member states produce an average of 32 million barrels a day.
According to AFP, despite calls by the United States for the Organisation of Petroleum Exporting Countries (OPEC) to raise output in order to cool down prices, OPEC president Chakib Khelil said Monday the oil cartel would take no decision before a meeting in September.
Many OPEC officials argue that record oil prices are being driven by speculators rather than investors reacting to the actual supply-demand balance.
Oil prices have jumped more than a quarter since the start of 2008, when they struck 100 dollars a barrel for the first time.