CLYDE RUSSELL: Saudi Arabia faces a fine balancing act between crude output and prices

Launceston, Australia — Saudi Aramco’s decision to cut the price of its crude for Asian customers shows just how difficult it is for the world’s largest oil exporter to walk the line between maintaining market share and restraining output enough to bolster prices.

Saudi Aramco said on Sunday that it will lower the official selling prices (OSPs) of its crude grades by $2 a barrel to Asian refiners for February-loading cargoes from January levels…

Source: businesslive.co.za