Iran luring its Asian oil buyers by discounts
Iran is offering discounts to the Asian customers of its crude oil in a bid to retain them. The country hopes that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as the potential threat of further U.S. sanctions on the country looms, Reuters reported on Wednesday. The National Iranian Oil Company (NIOC) has in the last few weeks offered spot cargoes, ranging from light to heavy grades, to its term buyers in Asia, after setting December prices at the lowest in years against comparable Saudi ...
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