U.S. Oil Boom Tempts Saudis to Consider Exporting American Crude - Bloomberg

U.S. Oil Boom Tempts Saudis to Consider Exporting American Crude - Bloomberg:

"Even Saudi Arabia wants in on the U.S. oil boom.

The kingdom’s state oil firm considered the possibility of sending American crude to Asia in February via a U.S. unit before determining it wasn’t economically viable, according to a person with knowledge of the matter. It also asked potential buyers in Asia if they would be interested in U.S. supply, according to officials at two regional refiners. The people asked not to be identified because the information is confidential.


The fact that the Saudis decided against moving a cargo to the world’s biggest oil consuming region this month doesn’t mean they won’t consider it again. Such a sale would be unprecedented, and a potential strategy by the Middle East nation in the face of rising U.S. production. American supplies are proving a threat to efforts by the OPEC producer and its allies to clear a global glut and prop up prices.

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