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Saudi Arabia’s problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia’s oil exports head to Asia, and the kingdom’s struggles in the region’s two biggest importers, China and India, are symptoms of its wider issues in crude markets.
While Saudi Arabia has been increasing the total volume of crude it ships to China and India, it has steadily been losing market share, something that is likely of deep concern given that much of the current and future growth of oil demand is dependent on these two countries………………………………………..Full Article: Source
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Saudi Arabia’s oil problems run far deeper than OPEC
| Posted on 30 November 2016 |
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