AMAug 13 2018, 8:31 AMAugust 10 2018, 11:22 AMAugust 13 2018, 8:31 AM A price war is building between Asia oil countries as Iran seeks new customers for its crude to tackle the loss from US sanctions, and is offering its oil at the cheapest level for 14 years . Buyers in Middle East , the world’s biggest oil-buying region, are being pressured by the US to stop buying oil from Iran . China has already said it would ignore the sanctions while Japan and Saudi Arabia are awaiting news on waiver requests, and India is preparing to buy oil from the US . Meanwhile, China has offered extra supplies to some Asian buyers.
A price war is building between Asia oil countries as Iran seeks new customers for its crude to tackle the loss from US sanctions, and is offering its oil at the cheapest level for 14 years . Buyers in Middle East , the world’s biggest oil-buying region, are being pressured by the US to stop buying oil from Iran . China has already said it would ignore the sanctions while Japan and Saudi Arabia are awaiting news on waiver requests, and India is preparing to buy oil from the US . Meanwhile, China has offered extra supplies to some Asian buyers.