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Saudi pricing shows oil volatility in action amid oversupply: Russell

Destination Saudi Arabia . Riyadh on the map shown by pin

(The opinions expressed here are those of the author, a columnist for Reuters.) Saudi Arabia’s decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over. Saudi Aramco, the kingdom’s state-owned oil company, cut its official selling price (OSP) for its main Arab Light grade ...

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China boosts oil trading visibility, market power: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) SINGAPORE – If you are looking for evidence that China is becoming more assertive in the global economy, then the trading of physical crude oil in Asia is a good example. Chinaoil, the trading arm of state-controlled giant PetroChina, bought a record 55 cargoes in the Middle East ...

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