Saudi Arabia continues its plan to protect market share
Saudi Arabia today cut prices of its oil to customers in major markets including Europe, Asia and the Mediterranean in the hopes of defending its market share. The move is seen as a reaction to Iran’s return to global oil markets.

Saudi Arabia discounted even its best-quality crude, similar in quality to what Iran sold in Europe prior to sanctions, in order to continue defending market share, according to The Wall Street Journal.

Saudi Aramco, the state-owned oil giant, lowered its ...

Legal Notice