Iran aims to increase its share in the oil market, selling raw materials at lower prices.
According to Bloomberg, the national Iranian oil company in may, will implement the Forozan Blend crude oil for customers in Asia at a price of $2,43 per barrel below the average price of oil from Oman and Dubai. It is also 3 cents lower than the price of oil Saudi Aramco, according to RBC.
Iran is determined to regain the market share it lost over the past few years because of the sanctions imposed in connection with its nuclear program. Tehran will focus on prices and increased demand.
Iranian heavy oil will be sold in may in Asia at a discount of $2,60 per barrel below the average price of oil from Oman and Dubai. The price of the brand Soroosh was set at $5,65 per barrel following Iranian heavy oil.
After the lifting of sanctions in January 2016 Iran received an opportunity to resume the export of oil to Europe. In early April the Minister of the country’s oil Bijan Zanganeh said in March Iran increased its exports of oil and gas condensate to over 2 million barrels per day.
