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    Iran promised to offer Europe discount on oil by 7 USD per barrel

    Iran intends to press Saudi Arabia in European oil market

    Baku. 20 January. REPORT.AZ/ Iran intends to press Saudi Arabia in the European oil market.

    The Islamic Republic is ready to offer its oil to European consumers at a discount of 6.55 dollars per barrel, while Saudi Arabia is now selling oil in Europe with Discount of 4.85 dollars per barrel, Report informs citing Reuters, it was told by the National Iranian Oil Company.

    Competition between Saudi Arabia and Iran in the oil market in Europe downs quotes for oil in the region to a minimum over the past seven years.

    At this, agency experts believe that if oil prices were at a higher level, the discount on Iranian oil could be even greater. They also note that such a strategy of competition from Iran and Saudi Arabia - in fact puts an end to a common decision of member countries of the oil cartel of OPEC.

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