London—A second front in the battle for market share has opened up in Europe as OPEC’s top two producers, Saudi Arabia and Iraq, try to lock in additional supply to the region before the expected lifting of sanctions early next year enables Iran to boost oil sales, the International Energy Agency said Friday. Recent purchases of Saudi crude by three traditional buyers of Russian Urals have shone a spotlight on rivalry between Russia and Saudi Arabia. Russia, according to the IEA, accounts for some 55% of Europe’s 6 million b/d of sour crude imports. However, as the IEA noted, Saudi Aramco recently sold cargoes to two refiners in Poland and one in Sweden.
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