Iran’s oil discount to China reaches its highest level in a year

Iran’s oil discount to China reaches its highest level in a year

As a new wave of sanctions from the United States, Britain and the European Union target sales of Russian and Iranian oil, trade sources told Reuters that discounts on Iranian oil for Chinese customers have reached their widest in more than a year, reaching as much as $10. Reduced oil import quotas for independent Chinese refiners have also added to the pressure.

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Get to know the types of crude oil

Get to know the types of crude oil

The quality of crude oil varies and based on specific gravity and viscosity, they are divided into light, medium, heavy and very heavy crude oil.