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What Does The Next OPEC Meeting Have In Store?

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The Prince outlined his strategy in “Vision 2030”, and a major step in that direction is the listing of the state-owned oil company Aramco. Iran has increased its market share in the excess supply environment by offering large discounts , undercutting the Saudi and Iraqi prices for their deliveries to Asia.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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Furthermore, several national oil companies, Venezuela’s among them, are building refineries with local partners in Asia, which will use their crude. Given this environment, it is not surprising that the revenue elasticity of production is highly sensitive, and negative. Saudi Arabia increased production by 6.8