Saturday, March 17, 2012

Saudis Increase Oil Sales

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


Anonymous said...

Slowly but surely it's all falling into place.

Anonymous said...

Anon 8:45 AM

What do you mean by that?

Jamie Webster said...

The Saudi's increased sales into the US to fill the new expansion at their Motiva refinery in the US.