In an interview given to Gaurav Sharma from the Rigzone, Dr Carole Nakhle, CEO of Crystol Energy, comments on the desperate sales tactics Iran has been pursuing to monetise its oil resources following the collapse of the oil prices amid the Covid-19 pandemic.
According to Dr Nakhle, even desperate measures have limitations at a time like this. Iran is suffering from the triple whammy of massive curtailment of oil exports, combined with a dramatic price decline, and it is one of the countries that’s among the hardest hit by the pandemic. It would require increased expenditures at a time when they can afford it less than other countries. In a bearish market, how low can Iran go to make its oil attractive at a time when even legitimate cargoes are desperately looking for buyers?
“The oil market crunch”, Dr Carole Nakhle, May 2020
“IMF MENA Regional Economic Outlook – Panel Discussion on the Impact of Covid-19, Oil Price Shocks and the Way Forward”, Dr Carole Nakhle, April 2020
“Webinar: Host Governments and Oil Companies in Today’s Market Conditions and Trends”, Dr Carole Nakhle, April 2020
“What’s at Stake in US-Iran Conflict”, Christof Rühl, Jan 2020