Iran's OSP Discount Follows Global Norms

National Iranian Oil Company's reduction of official selling price for Asian buyers is not higher than the global market norms and is on par with trends followed by all producers, a company source with knowledge of the matter said on Sunday.
"Discounting is just the nature of global markets and all crude producers do it to boost exports," the source was quoted as saying by IRNA.
"Accordingly, exporters determine price cuts based on several factors, including the supply and demand and rival producers' activities."