OEF Rapid Review Articles
Saudi Arabia has cut the pricing for some of its April oil sales to Asia, showing that it is trying to lure buyers toward its lighter and less sulfurous crude varieties. “This came as a complete surprise to the market,” said Tushar Tarun Bansal, director at Ivy Global Energy in Singapore. “This is a signal from the Saudis that they are serious about market share and pricing crude competitively, and would even be open to changing the methodology if the need arises.” This is the producer’s latest effort to defend sales in Asia.
LINK TO THE SOURCE ARTICLE:
Saudis Defending Sales Against Rising U.S. Exports
