Source: Russia to offer oil discount to keep positions in Europe

MOSCOW, Nov 23 (PRIME) -- Russia is ready to sell its oil to Europe with a discount to keep its positions on the market, a government source told reporters on November 21.

“We will fight for our market in Europe, we will increase discounts for Urals. Do not think that Saudis will easily occupy refineries which historically operate on our oil, it is not easy to do from a technological point of view,” the source said without disclosing the possible discounts.

The low price for Iraqi oil is due to its quality. “We know that Iraq sells it for U.S. $30, but it is the Basra Heavy grade, it is very heavy, it is not a competitor to Urals and its real price is $35, they only provide a $5 discount,” the source said.

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