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Crude Oil & Futures Trading | Trading Strategies & Guidance , Archive » Weekly Fundamentals – Saudi’s Exports on Refined Products Reached Record High, Showing No Intention to Rescue Oil Price
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Weekly Fundamentals – Saudi’s Exports on Refined Products Reached Record High, Showing No Intention to Rescue Oil Price

Posted October 25th, 2014 by gq9u2N5ksb and filed in General News
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Crude oil was under pressure for most of the week, despite a rebound on Thursday after the news about Saudi’s cut in supply. The recent sell off has mainly been driven by supply-side issue with the Kingdom reluctant to cut production while Libyan production on the rise. The widening spread between Arab Light crude and the DME Oman average indicated the Kingdom has accepted lower price for regaining market share.

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Weekly Fundamentals – Saudi’s Exports on Refined Products Reached Record High, Showing No Intention to Rescue Oil Price

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