Friday, September 24, 2004

IranMania News

IranMania News: "Iran should stop underselling oil: energy expert

Friday, September 24, 2004 - ©2004 IranMania.com

LONDON, Sep 24 (IranMania) - Traditional ways of trading have resulted in low prices for Iran’s oil in the world markets, an Iranian expert stated, Mehr News Agency (MNA) reported.

Pointing to the current rates in oil markets, Ali Reza Yarnouri said that Iran offers its products at least ten dollars cheaper than other known crude oils like Brent or West Texas.

Although some experts believe that the quality of Iran’s oil is pretty lower than market hits such as West Texas Intermediate, Yarnouri stressed that the difference had not been so big in the past. “The oil ministry’s unwise policy jeopardizes the position of Iran’s oil products in international markets.”

“Instead of copying oil pricing strategies of countries like the UAE, we should follow those which have had great accomplishments in the world markets,” he suggested, discussing Norway’s systematic ways of organizing oil trade. During the recent go-ups in world markets, Scandinavia marked the biggest gain in its oil trading history."

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