Saudi Supply Increase Cheapens OPEC Crude

- June 21st, 2011

Bloomberg reports that Saudi Arabia’s plans to increase supply promises to reduce the price gap between undersupplied light crude and abundant lower-quality oil.

Bloomberg reports that Saudi Arabia’s plans to increase supply promises to reduce the price gap between undersupplied light crude and abundant lower-quality oil.

The market news is quoted as saying:

Lower relative values for high-sulphur crude hurt most members of the Organization of the Petroleum Exporting Countries and benefit refiners that have the upgrading capacity to process heavy oil into light fuels.

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