Saudis Expand Price War Downstream
Green Car Congress
JULY 28, 2015
In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil. In case of Saudi Arabia, the price of crude oil would be extremely low. per barrel in first quarter of 2015).
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