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?
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