Gray eminence of Saudi Arabia, OPEC announced a discount, it intends to give it sold oil in the amount of $ 3.20 per barrel. It is understood this is the discount compared to the market average of valuable - on the materials AMarkets.
For October, "sales" Arabia organized a discount of $ 1.30 per barrel. The current planned level of discount to the official price (OSP) - the highest since February 2012. The main factor - weak global demand for black gold.The main culprit of falling demand - mainly China. And, of course, Saudi Arabia is doing everything possible to win back as much as possible market share at the expense of price dumping.
Schedule - increasing the number of liquid supertankers - oil storage. Current levels - the highest since 2008:
Will OPEC somehow affect the oversupply of oil on the market? Where to put the extra 200 million barrels? How likely is a split within OPEC? While all of these questions there is no answer. Alas. We are waiting.