Major OPEC oil producers, including Saudi Arabia, Iraq, Kuwait and the UAE, are lowering their crude oil selling prices to win back customers after the Iran war disrupted trade. They want to sell more oil, even if that means earning less per barrel. Competition between these countries could push global crude oil prices down and put pressure on OPEC.
Source
https://thearabweekly.com/battle-mideast-oil-market-share-has-already-begun
