Saudis Bring Oil War To Europe With Largest Price Discount Since 2009

Thursday, November 5, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
11/05/2015

With oil exports to Europe having slipped from 13% of Saudi’s total to just 10% in the last six months, The FT reports, the de facto leader of OPEC has slashed its Official Selling Price (OSP) to Europe in an effort to regain market share. Saudi lowered its OSP for its Arab light crude grade in Europe by $1.30 a barrel for December, taking its discount to the weighted average of the North Sea Brent benchmark to $4.75 a barrel – the largest discount since February 2009... directly going after Russia’s customer base.

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