OPEC’s biggest producer prices oil at record lows to the Asian market, raises rates in the U.S. and Europe
Saudi Aramco announced its prices for March, dropping prices to the Asian markets to their lowest in over a decade in order to protect market share in the world’s fastest growing energy market. The new prices for March also showed increases to other parts of the world, including the U.S. and Europe.

The company sent out an email  on Thursday announcing official selling price for Arab Light crude in Asia would be lowered an additional $...

Analyst Commentary

Baird Research 02.06.2015

Saudi Arabia cuts discount to Asia to a record low further defending its market share. Bloomberg reports State-owned Saudi Arabian Oil Co. reduced its pricing to Asian customers to $2.30/ bbl less than Middle East benchmarks representing the largest discount on record. With crude oil seemingly trying to find a bottom, price concessions like this indicate prior highs are likely only a recent memory rather than a prospective truth.  

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