Iran has made deep cuts to official selling prices for its crude in February to buyers in
the Mediterranean, and made little change for buyers in Northwest Europe, a source at Nioc said yesterday.
Iran, the world's fourth-largest exporter, cut the price of its Light crude to buyers from its oil terminal at Kharg Island by $2.20 a barrel to a discount of $5.95 a barrel to BWAVE. It cut the cost of its heavier crudes by $1.90.
For buyers from Egypt's Sidi Kerir, Iran cut the price of its Light crude by 85 cents and heavy crude by 55 cents.
Asian buyers saw Light crude prices fall 20 cents, while heavy crude rose 10 cents. (Reuters)
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