Iran increasing freight discount to boost oil sales to India
Opec member eyes Asia as it competes with rivals Iraq and Saudi Arabia; faces threat of more US sanctions
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New Delhi
IRAN has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the Opec member is keen to eat into the market share of other producers including top rivals Saudi Arabia and Iraq.
Iran is pushing to retain customers for its oil in Asia, hoping concessions will boost the appeal of its crude compared with other Middle Eastern suppliers, even as the threat looms of potential further US sanctions on the country.
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