Saudi Arabia in early March, will reduce the cost of oil for Asia to record values. At the same time, it will increase the value of fuel exports in the US and Europe.
The cost of oil Arab Light for Asian importers of fuel will decrease by $0.9m per barrel. As a result, the cost of this brand in early March will be lower than the average price of crude oil Oman and the UAE at us $2.3 per barrel. This is considered a record low for the past 14 years, reports Bloomberg.
Experts do not doubt that this suggests that the Saudis want to protect their share in the Chinese market. "They want to stay competitive, because in China there is financial growth," said bill O'grady, senior expert analyst firm Confluence Investment Management.
With all this "easy" brand Arab Light for customers from countries of the North-Western Europe in early March, will cost $0,7 more expensive. For importers from the United States fuel price will rise to $0.15 per barrel.
sections: Economics, World News |