Baku, Azerbaijan, Nov. 12
By Elnur Baghishov - Trend:
As many as 700,000 barrels of oil were sold at Iran Energy Exchange, and the price for each barrel was $64.97, Mehr News Agency reported.
The barrels were put up at the Energy Exchange with the cooperation of the National Iranian Oil Company (NIOC).
Two cargoes of 245,000 barrels and one cargo of 210 barrels were intended for sale.
Customers offered $57.34 per barrel for the first cargo of 245,000 barrels, $56.21 per barrel for the second cargo of 245,000 barrels and $54.85 per barrel for the cargo of 210,000 barrels per barrel.
Accordingly, the NIOC lowered its declared price to $67.1 per barrel. Customers increased their bids per barrel to $60.25, $59.74 and $59.12, respectively.
NIOC lowered the price of oil to $64.97 per barrel for the second time and all three cargoes were sold.
The NIOC initially set the price at $71.59 per barrel.