The oil tycoon from Saudi Arabia, the company Saudi Arabian Oil Co. (Saudi Aramco) reduces the cost of oil for its customers from China. Earlier, the Arab countries forced out of the oil market Asia Russia and other countries of OPEC. Today, the price of oil depends mainly on the states of the Persian Gulf, and they can not afford its decline, in order to gain a leading position in Asia. writes the online newspaper Neelov.
So, the company decided that now is the time to reduce the price of oil to Asian partners for 90 cents, and became almost reach for competitors. Now Saudi Aramco oil stands at $ 2.3 per barrel less than the Dubai Fateh.
This pricing applies not for all countries. For partners from Europe and the United States raised the cost of Arab power at 15 cents.
With the commentary of the situation made by the expert company Confluence Investment Managemen Bill O`Greydi: “The US has long remained the market to maintain its share of the Saudis that cared more all, but now it is not so. US alone produce an increasing share of the oil they need, and the Saudis are counting on China as a market that will grow even for decades.
One thing is for sure, Saudavskaya Arabia seriously decided to seize emerging market Asia. To do this, they went to the decline in oil prices, which was not done for 14 years.
-> Tags: Arabs, oil price
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