The oil company Saudi Aramco has announced lower prices for 3.20 US dollars for delivery to Asia and the United States in November. Earlier in October, the company shipped oil at a discount of US $ 1.30 per barrel.
Now the economy is not at the best level, the kingdom needs serious funding, and reduce the cost of quotations on oil makes the country's leadership to save more and more, as well as forces return to Saudi Arabia to invest overseas funds, and that tens of billions of dollars. According to Bloomberg, Saudi Arabia has already withdrawn about 50-70 billion US dollars of investment funds over the past six months. Read also
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OPEC, Saudi Arabia is now in a difficult situation, the main consumer of oil are Asian countries and oil market Now there was a decline in demand, it will provoke a decrease in oil prices. To compete, and further, the authorities of the Kingdom of consumers need to offer the best price on the market. In August 2014 became a dual Saudi Arabia on the one hand, this month, the sovereign fund of the country has reached the maximum amount to $ 737 billion US dollars, but then the price of oil fallen more than doubled, and money becomes less and less. At this point in the country's budget deficit is projected to about 20 percent. Choose a high-yield trading tools - pay attention to
the oil trade.
According to the materials WELTRADE