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  1. locshare11

    800 Posts.
    State-owned Saudi Arabian Oil Co. lowered its official selling price for Arab Light crude by 90 cents to $2.30 a barrel less than Middle East benchmarks, the company said in an e- mailed statement Thursday. That’s the lowest in at least the 14 years since Bloomberg began gathering data.

    “This is further evidence that they are hellbent on protecting their market share in China,” Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $2.4 billion, said by phone Thursday. “They are trying to stay competitive in what is the biggest area of growth.”
    I don't understand why Saudi wanted to blow Us shale and revenged Russia position as no 2 oil gas producer by lowering prices. Clearly, once Us become self-sufficient then Saudi will have no market place in the Us and the only emerging market is China. Russia will be in recession once It loses market share in Euro zones and delay or unable to deliver its OG pipelines to China as signed twice with China president. So if Saudi loses market share in US and gain market share in CN then it becomes balanced out. If Us gains market share in Euro zones and also for itself as a world oil consumer. Saudi has market share in Middle East and China. They are both have the Fair shares in market play. So why do Saudi want to create artificial oil prices. That hurt every producers but oil comsumers take gain.
    All of these games are Equalibrium in science. So what's wrong with that. This is what I should call "oil ecosystem". This is natural not "new normal" as China president mr Xi described with a soft market landing.

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