{"id":2618,"date":"2014-12-07T17:49:21","date_gmt":"2014-12-07T22:49:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2618"},"modified":"2014-12-07T17:49:21","modified_gmt":"2014-12-07T22:49:21","slug":"saudis-cut-oil-prices-again-in-bid-to-maintain-market-share","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2618","title":{"rendered":"Saudis Cut Oil Prices Again In Bid To Maintain Market Share"},"content":{"rendered":"<p><a href=\"http:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Saudis-Cut-Oil-Prices-Again-In-Bid-To-Maintain-Market-Share.html\">Saudis Cut Oil Prices Again In Bid To Maintain Market Share<\/a>.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">Saudi Arabia may have led the move to keep OPEC\u2019s crude production high and thereby keep prices low, but that doesn\u2019t mean it isn\u2019t concerned about keeping its share of the global oil market.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">Riyadh evidently demonstrated that on Dec. 4 when it dramatically\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/online.wsj.com\/articles\/saudi-arabia-cuts-all-january-crude-oil-prices-to-u-s-asia-1417700645\">cut oil prices for Asian and US customers<\/a>. Saudi Aramco lowered the price of all its oil grades for Asian customers in January by between $1.50 and $1.90 per barrel below December prices. For US customers, prices for all grades will decline by between 10 cents and 90 cents.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">At the same time, Saudi Aramco raised prices for all its grades of crude for clients in the Mediterranean and in northwestern Europe by between 20 cents and 50 cents per barrel.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\"><a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/A-Glimmer-Of-Hope-In-Current-Oil-Price-Slide.html\"><strong style=\"font-weight: bold;\"><span style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #800000; padding: 0px; margin: 0px; border: 0px initial initial;\">Related:\u00a0A Glimmer Of Hope In Current Oil Price Slide?<\/span><\/strong><\/a><\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">The Saudis haven\u2019t explained their reasoning, and some analysts\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.reuters.com\/article\/2014\/12\/05\/us-saudi-oil-idUSKCN0JJ03N20141205\">told Reuters<\/a>\u00a0that the pricing change is merely a reflection of the oil market. But others note Saudi Arabia has been\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/oilprice.com\/Energy\/Crude-Oil\/Saudi-Cut-In-Oil-Price-For-US-May-Lead-To-Price-War.html\">cutting prices to certain customers, especially in the US<\/a>, since before it steered the cartel to maintain production levels at the OPEC summit in Vienna on Nov. 27.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudis Cut Oil Prices Again In Bid To Maintain Market Share. Saudi Arabia may have led the move to keep OPEC\u2019s crude production high and thereby keep prices low, but that doesn\u2019t mean it isn\u2019t concerned about keeping its share of the global oil market. Riyadh evidently demonstrated that on Dec. 4 when it dramatically\u00a0cut [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[592,600,1246,701,723],"class_list":["post-2618","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-price","tag-opec","tag-riyadh","tag-saudi-arabia","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2618"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2618\/revisions"}],"predecessor-version":[{"id":2619,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2618\/revisions\/2619"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}