Iran should reduce oil prices
Iran must reduce its official oil price in order to hold its position in global oil markets, according to a report released by Iran's official news agency, IRNA, on Tuesday. The official sales price for oil must be lower to preserve Iran's market position and to retain clients, the report said. After Saudi Arabia lowered its sale price, Iran's oil buyers began purchasing from Saudi Arabia, the report added. Saudi Arabia was the first to reduce its official sales price for oil, and the move was followed by other oil-producing countries, the ...
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