(MENAFN) In a wise move to ultimately draw more potential customers, Iran will stop giving discounts on its oil deals, according to the latest reports.
The oil-rich nation has come to a clear realization that there's no room to push prices down any further, let alone it doesn't want to start a sort of a price war.
Meanwhile, crude prices have severely lost nearly 60pct of their value since mid-2014, driven by overproduction by Saudi Arabia and non-OPEC producers.
On the other hand, Iran sees a great chance in this global crisis, and so stopping the discounts seems to be the right move, which could make a huge impact.
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