Publications: Notes at the Margin

The US Gulf: Focus of the Oil Price War (November 10, 2014)


Saudi Arabia's schedule for premiums and discounts released November 3 made changes for all markets. Saudi Aramco reduced prices (that is, raised the discount) for Arab Medium and Heavy shipped to the US. Prices for other markets were increased (that is, discounts cut or premiums raised). Many commentators noted the price reductions to the US. Some suggested Saudi Arabia was taking steps to protect its market here. Others were not so sure. In this report, we present our view and the potential effects of this development on US crude oil prices and US crude oil producers. We also further examine the Middle East Troika's ongoing battle for market share in Asia.


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