January 12, 2012
...AND CHEAPER...:
Iran's 'distressed' oil to keep flowing - at deep discount (Steve Hargreaves, January 12, 2012, CNNMoney)
Despite tightening sanctions on Iran's oil industry, experts say the country's crude should still flow -- but perhaps at a deep discount.In fact, the bargaining has already begun, two analysts said. [...]As Iran loses customers, remaining clients like China can ask for a discount oil price.Houser suspects Iran will ultimately have to sell its oil for a 10% to 15% discount, putting a significant dent in the government's budget.
Posted by Orrin Judd at January 12, 2012 3:59 PM
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