Iran likely to halt int’l oil exchange
Azerbaijan, Baku, Oct. 11/Trend A. Gurbanova/
The National Iranian Oil Company is likely to suspend the crude oil sale at the international oil exchange , ISNA reported quoting consultant in Iran Mercantile Exchange Mir Mohammad Sadeghi as saying. However, the company has not yet officially announced about this.
"The company intends to suspend oil sale for a few weeks, but the permanent halt of crude oil sale has not been announced yet," he said.
He stressed that the Iran Mercantile Exchange lacks problem in putting crude oil on sale.
The Company did not put new oil cargo on sale at the international oil exchange during past weeks.
Iran placed the eighth heavy crude oil cargo at price of $113.92 per barrel at the international oil exchange at Kish Island weeks ago however it remained unsold due to lack of customers demand
Iran possesses the world's second largest reserves of gas and third in oil reserves is currently faces US sanctions over its nuclear program.