Saudis Move to End Russia’s Price Advantage

摘要

Low prices for benchmark North Sea Brent crude have previously sheltered Russian producers from the full impact of aggressive Saudi pricing, keeping prices for Russian crude attractive to buyers in Europe and Asia. But Saudi Aramco’s new May selling prices may change that. Despite the massive demand destruction seen in recent months, Chinese buyers have continued to show interest in Russia’s two flagship export grades: Urals and East Siberian-Pacific Ocean (Espo).