Saudi Arabia And Iran Reignite The Oil Price War
Considering the intensity of efforts by the U.S. to cut off as much Iranian oil exports as possible, it is unlikely that even Iran's significant discounts to Asian customers will save the country's oil exports
By Oilprice.com -- Tsvetana Paraskova—— Bio and Archives--August 14, 2018
Global Warming-Energy-Environment | Comments | Back To Full Article
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.
Saudi Arabia, OPEC's largest producer, has been boosting oil production to offset supply disruptions elsewhere, including the anticipated loss of Iranian oil supply after U.S. sanctions on Tehran return in early November. The Saudis are also cutting their prices to the prized Asian market to lure more customers as they increase supply.Welcome to CFP’s Comment Section!
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