Saudis Make Deep Price Cuts To Save Market Share ...Middle East

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Saudis Make Deep Price Cuts To Save Market Share
source : OILPRICE ( Middle East ) () 26
Saudi Arabia slashed the official selling prices (OSPs) for its oil exports to Asia in October more than expected in a move seen as the world’s largest crude exporter trying to keep and boost its market share while Asian fuel demand is recovering from a dip in recent weeks. Saudi Aramco lowered its OSPs for the Asian markets for all the grades it sells. The cuts, the first in three months, range from $1.00 to $1.30 a barrel. Arab Light, the flagship crude grade of the Kingdom, will be selling in Asia at a $1.70 a barrel premium over the Oman/Dubai…

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