Posted on 10/06/2015 9:26:17 PM PDT by Rabin
Saudi Aramco reduced the price of its light-crude deliveries to Asia by $1.70/bbl. As a result, Marketwatch switched to a discount of $1.60/bbl against the rival Dubai benchmark from the previous premium of $0.10/bbl. Aramco also reduced its prices for heavy oil by $2/bbl to the Far East and by $0.30/bbl to the U.S.
Aramco also reduced its official selling price for medium grade crude to Asia in November to a discount of $3.20/bbl below the regional benchmark, versus a $1.30 discount for October sales, the company said Sunday. The discount for the medium grade to Asia, the primary market for Saudi crude, widened by the most since February 2012 when Aramco made a $2/bbl.
(Excerpt) Read more at oilpro.com ...
Rab.
They are destroying American industry to keep us addicted. Zero does nothing to defend us.
We need Russia (our last hope apparently for fighting Muslims) to light up some oil wells in the ME and get the price back up globally.
Hey, maybe that’s why Russia is in Syria? That worthless country is run on oil prices. They don’t have much else going on except vodka and heroin so bad it turns your skin blacker and blacker until it falls off.
What are you talking about? Russia has the worlds lagest coal supply. The Second largest oil reserve. Industry is good as they are manufacturing arms and weapons and tanks and supplying our pissed off former allies.. If there was any country in the world that “has it all” ...its Russia. Its far from a worthless country. You are living the worthless country now. Want vodka and heroin...go down to your local 7/11.
Oil and natural gas represent something like 68 percent of Russia's export revenue, not to mention a huge chunk of their government revenue. Without high oil prices, they're in the same boat as Venezuela.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.