Tehran, YJC. Iran has lowered its oil price in what seems to be the country’s action in response to Saudi Arabia’s recent price war.
After Saudi Arabia reduced its oil price as much as one
dollar for some markets, Iran’s National Oil Company Director of International
Affairs announced on Saturday that the country has also lowered its oil price.
Mohsen Qamsari denied allegations that the move aims
attracting more customers and said that it is a response to Saudi Arabia’s
initiative.
He stated that "technical causes” rather than competition
with Saudi Arabia have comprised Iran’s reasons for lowering oil prices, adding
"Economic situations, supply and demand status, and the prices of products that
are currently there in the market are the reasons for this reduction in prices.”
Bloomberg TV had said that Iran has approximated its oil
price to that of Saudi Arabia in order to attract its Asian customers.