• Saudi Arabia cuts the prices it charges for crude oil in Europe

Noticias del mercado

6 junio 2016

Saudi Arabia cuts the prices it charges for crude oil in Europe

Saudi Arabia on Sunday lowered the prices it charges for crude oil in Europe. Saudi Arabian Oil Co., the country's state-owned oil company, said that it cut its light crude by $0.35 a barrel to Northwest Europe and by $0.10 a barrel in the Mediterranean for July delivery.

Saudi Arabia tries to defend its market share as Iran was raising its oil exports after the lift-off of the sanctions.

Saudi Arabia raised its light-crude prices by $0.35 a barrel to the Far East and by $0.10 a barrel to the U.S.

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