October 15, 2015
IS ANYBODY NOT BEATING PUTIN?:
Saudi Arabia targets Russia in battle for European oil market (Dmitry Zhdannikov, Gleb Gorodyankin and Reem Shamseddine, 10/15/15, Reuters)
From global majors such as Shell and Total to more modest Polish energy firms, oil refiners in Europe are cutting their longstanding use of Russian crude in favour of Saudi grades as the world's top exporters fight for market share.Russia has for years been muscling in on Asian markets where Saudi Arabia was once the unchallenged dominant supplier. But now Riyadh is retaliating in Moscow's backyard of Europe with aggressive price discounting.
Posted by Orrin Judd at October 15, 2015 6:31 PM
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