Middle East oil producers turn to crude trading to boost incomes

Middle East oil producers turn to crude trading to boost incomes:

"Middle East oil producers are venturing into trading crude as three years of weak oil prices has encouraged them to find new sources of income beyond the business of exporting their output. OPEC kingpin Saudi Arabia, the world’s biggest oil exporter, is among those making the shift. A subsidiary of state-owned Saudi Aramco plans to start trading non-Saudi crude, according to sources familiar with the issue. Other members of the Organization of the Petroleum Exporting Countries are joining in as oil prices remain at roughly half their levels of mid-2014."



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