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Saudis cut oil price for Asia, may have to do more: Clyde Russell

Posted on 07 February 2014

Saudi Arabia’s decision to cut March oil prices for Asian customers by more than expected appears to be a three-pronged move to maintain market share, boost refining margins and stave off demand destruction.
Saudi Aramco, the world’s biggest oil exporter, cut the official selling price (OSP) for its benchmark Arab Light grade to a premium of $1.75 a barrel over Oman/Dubai, down from $2.45 in February and lowest since July last year………………………………………..Full Article: Source


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