Saudi Arabia Throws Down The Gauntlet To Iran In Battle For Asian Oil Market
Riyadh has cut oil prices to Asia by $1.60 per barrel, the most in 10 months, signaling mounting competition with fellow OPEC member Iran. Saudi Arabia is ramping up exports to regain market share. State-run Saudi Aramco plans to sell Arab Light crude at $1.10 per barrel below the Asian regional benchmark, starting September. Experts…