Saudi Arabia is extending its oil sales to the United States this year. KSA’s shipments to the US have risen 25 percent to the highest level since mid-2008, Reuters reported today.
The increase in sales to the US evokes comparison to 2008 when the KSA was driving up production to knock oil process off record highs near $150 a barrel.
The kingdom has also stepped up efforts this week to assure edgy markets that it will make up for any oil supply disruptions at a time when Iran's standoff with the West has begun to intensify.
Source: Reuters, 17 March 2012
Slowly but surely it's all falling into place.
ReplyDeleteAnon 8:45 AM
ReplyDeleteWhat do you mean by that?
The Saudi's increased sales into the US to fill the new expansion at their Motiva refinery in the US.
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